Johnson & Johnson Reports Q3 2022 Results

 
  • Reported sales growth of 1.9% to $23.8 Billion with operational growth of 8.1%* and adjusted operational growth of 8.2%*
  •  
  • Earnings per share (EPS) of $1.68 increasing 22.6% and adjusted EPS of $2.55 decreasing by 1.9%*
  •  
  • Company is maintaining 2022 full-year guidance midpoints for adjusted operational sales and reported adjusted EPS; increasing adjusted operational EPS performance offsetting continued unfavorable currency impacts
  •  

Johnson & Johnson (NYSE: JNJ) today announced results for third-quarter 2022. "Our third quarter performance demonstrates our continued strength and resilience across all three of our businesses," said Joaquin Duato, Chief Executive Officer. "Through the ongoing efforts of our teams around the world, we continue to navigate the dynamic macroeconomic environment and remain focused on delivering transformative healthcare solutions. Looking ahead, I remain confident in our business and ability to continue advancing our innovative portfolio and pipeline."

 

   OVERALL FINANCIAL RESULTS   

 
                                            
  

  Q3  

 
  ($ in Millions, except EPS)   

  2022  

 
 

  2021  

 
 

  % Change  

 
Reported Sales  

$23,791

 
 

$23,338

 
 

1.9%

 
Net Earnings  

4,458

 
 

3,667

 
 

21.6%

 
EPS (diluted)  

$1.68

 
 

$1.37

 
 

22.6%

 
    
  

  Q3  

 
  Non-GAAP* ($ in Millions, except EPS)   

  2022  

 
 

  2021  

 
 

  % Change  

 
Operational Sales 1,2  

 

 
 

 

 
 

8.1%

 

Adjusted Operational Sales 1,3  

 

 
 

 

 
 

8.2%

 
Adjusted Net Earnings 1,4  

6,779

 
 

6,968

 
 

(2.7)%

 
Adjusted EPS (diluted) 1,4  

$2.55

 
 

$2.60

 
 

(1.9)%

 
 

  1 Non-GAAP financial measure ; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
4 Excludes intangible amortization expense and special items
Note: values may have been rounded

 

   REGIONAL SALES RESULTS   

 
                               
  Q3   

 

 
 

  % Change  

 
  ($ in Millions)   

  2022  

 
 

  2021  

 
 

  Reported  

 
 

  Operational 1,2  

 
 

  Currency  

 
 

  Adjusted  

 

  Operational 1,3  

 
U.S.  

$12,453

 
 

$11,963

 
 

4.1%

 
 

4.1

 
 

-

 
 

4.2

 
International  

$11,338

 
 

$11,375

 
 

(0.3)

 
 

12.3

 
 

(12.6)

 
 

12.4

 
Worldwide  

$23,791

 
 

$23,338

 
 

1.9%

 
 

8.1

 
 

(6.2)

 
 

8.2

 
 

  1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
Note: Values may have been rounded

 

   SEGMENT SALES RESULTS   

 
                                      
  Q3   

 

 
 

  % Change  

 
  ($ in Millions)   

  2022  

 
 

  2021  

 
 

  Reported  

 
 

  Operational 1,2  

 
 

  Currency  

 
 

  Adjusted  

 

  Operational 1,3  

 
 

Consumer Health 4

 
 

$3,795

 
 

$3,812

 
 

(0.4)%

 
 

4.7

 
 

(5.1)

 
 

4.8

 
Pharmaceutical 4  

$13,214

 
 

$12,882

 
 

2.6

 
 

9.0

 
 

(6.4)

 
 

9.2

 
MedTech  

$6,782

 
 

$6,644

 
 

2.1

 
 

8.1

 
 

(6.0)

 
 

8.1

 
Worldwide  

$23,791

 
 

$23,338

 
 

1.9%

 
 

8.1

 
 

(6.2)

 
 

8.2

 
 

  1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
4 Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
Note: Values may have been rounded

 

   TH   IRD QUARTER 2022 SEGMENT COMMENTARY:
 
Adjusted operational sales* reflected below excludes the net impact of acquisitions and divestitures and translational currency.

 

   Consumer Health
 
Consumer Health worldwide adjusted operational sales increased 4.8%*. Major contributors to growth include upper respiratory and analgesic products in the over-the-counter franchise, NEUTROGENA and AVEENO in Skin Health/Beauty and Women's Health products outside the United States.

 

   Pharmaceutical
 
Pharmaceutical worldwide adjusted operational sales grew 9.2%*, driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, and INVEGA SUSTENNA/XEPLION and INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. Also contributing to growth were sales of the Janssen COVID-19 Vaccine (Ad26.COV2.S) for the prevention of the SARS-CoV-2 virus. This growth was partially offset by declines in sales of REMICADE (infliximab), a biologic approved for the treatment of several immune-mediated inflammatory diseases and IMBRUVICA (ibrutinib), an oral, once daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer.

 

   MedTech
 
MedTech worldwide adjusted operational sales grew 8.1%*, driven primarily by electrophysiology products in Interventional Solutions, contact lenses in Vision, Trauma in Orthopaedics and wound closure products in General Surgery.

 

   NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
 
The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov , www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investors section of the company's website at news releases , as well as www.factsabouttalc.com , www.factsaboutourprescriptionopioids.com , and www.LTLManagementInformation.com .

 
                                      
 

Regulatory Decisions

 
 

STELARA (ustekinumab) Approved by the U.S. Food and Drug Administration to Treat Pediatric Patients with Active Psoriatic Arthritis

 
 

  Press Release  

 
 

European Commission Approves IMBRUVICA (ibrutinib) in a Fixed-Duration Combination Regimen for Adult Patients with Previously Untreated Chronic Lymphocytic Leukaemia (CLL)

 
 

  Press Release  

 
 

Janssen Marks First Approval Worldwide for TECVAYLI (teclistamab) with EC Authorisation of First-in-Class Bispecific Antibody for the Treatment of Patients with Multiple Myeloma

 
 

  Press Release  

 
 

U.S. FDA Approves IMBRUVICA (ibrutinib) as First and Only BTKi Treatment for Pediatric Patients with Chronic Graft-Versus-Host Disease

 
 

  Press Release  

 
 

Data Release

 
 

Janssen Announces New Data Supporting Safety and Efficacy of RYBREVANT and Lazertinib Combination for Patients with Non-Small Cell Lung Cancer and EGFR Mutations

 
 

  Press Release  

 
 

Final Analysis of Phase 2 GRIFFIN Study Presented for DARZALEX (daratumumab)-based Investigational Quadruplet Regimen in Patients with Newly Diagnosed, Transplant-Eligible Multiple Myeloma

 
 

  Press Release  

 
 

TREMFYA (guselkumab) Demonstrates Higher Rates of Complete Skin Clearance with Earlier Treatment in Adults with Moderate to Severe Plaque Psoriasis in Phase 3b GUIDE Study

 
 

  Press Release  

 
 

Results of Novel Clinical Study of Guselkumab and Golimumab Combination Therapy Show Adults with Moderately to Severely Active Ulcerative Colitis Maintained Higher Rates of Clinical, Histologic, and Endoscopic Remission at Week 38 1

 
 

  Press Release  

 
 

STELARA (ustekinumab) Demonstrated Sustained Symptomatic and Corticosteroid-Free Remission Through Four Years in Adults with Moderately to Severely Active Ulcerative Colitis 1

 
 

  Press Release  

 
 

Janssen Announces Late-Breaking Data from Two Gene Therapy Programs at the American Academy of Ophthalmology 2022 Annual Meeting

 
 

  Press Release  

 
 

Product Launches

 
 

Biosense Webster Launches the OCTARAY Mapping Catheter with TRUEref Technology

 
 

  Press Release  

 
 

Johnson & Johnson Vision Introduces All Purpose EDOF, TECNIS Symfony OptiBlue IOL, the Latest PC-IOL Powered by InteliLight Technology

 
 

  Press Release  

 
 

Johnson & Johnson Vision Launches New Contact Lens Innovation to Help Meet the Needs of Digitally Intense Lifestyles: ACUVUE OASYS MAX 1-Day

 
 

  Press Release  

 
 

Biosense Webster Launches HELIOSTAR in Europe, the First Radiofrequency Balloon Ablation Catheter, Enabling Physicians to Perform More Efficient Cardiac Ablations 1

 
 

  Press Release  

 
 

Other

 
 

Johnson & Johnson Announces $5 Billion Share Repurchase Program

 
 

  Press Release  

 
 

Johnson & Johnson Appoints Larry Merlo as Non-Executive Chair Designate of Planned New Consumer Health Company

 
 

  Press Release  

 
 

Johnson & Johnson Announces Kenvue as the Name for Planned New Consumer Health Company

 
 

  Press Release  

 
 

  1 Subsequent to the quarter.

 

   FULL-YEAR 2022 GUIDANCE:
 
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

 
                     
 

  ($ in Billions, except EPS)  

 
 

  October 2022  

 
 

  July 2022  

 
 

Adjusted Operational Sales 1,2,5

 

Change vs. Prior Year

 
 

6.7% – 7.2%

 
 

6.5% – 7.5%

 
 

Operational Sales 2,5 / Mid-point 2,5

 

Change vs. Prior Year / Mid-point

 
 

$97.5B – $98.0B / $97.8B

 

6.7% – 7.2% / 7.0%

 
 

$97.3B – $98.3B / $97.8B

 

6.5% – 7.5% / 7.0%

 
 

Estimated Reported Sales 3,5 / Mid-point 3,5

 

Change vs. Prior Year / Mid-point

 
 

$93.0B – $93.5B / $93.3B

 

1.8% – 2.3% / 2.1%

 
 

$93.3B – $94.3B / $93.8B

 

2.1% – 3.1% / 2.6%

 
 

 

 
 

 

 
 

 

 
 

Adjusted Operational EPS (Diluted) 2,4 / Mid-point 2,4

 

Change vs. Prior Year / Mid-point

 
 

$10.70 – $10.75 / $10.73

 

9.2% – 9.7% / 9.5%

 
 

$10.65 – $10.75 / $10.70

 

8.7% – 9.7% / 9.2%

 
 

Adjusted EPS (Diluted) 3,4 / Mid-point 3,4

 

Change vs. Prior Year / Mid-point

 
 

$10.02 – $10.07 / $10.05

 

2.3% – 2.8% / 2.6%

 
 

$10.00 – $10.10 / $10.05

 

2.1% – 3.1% / 2.6 %

 
 

  1 Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures
2 Non-GAAP financial measure; excludes the impact of translational currency
3 Calculated using Euro Average Rate: October 2022 = $1.04 and July 2022 = $1.05 (Illustrative purposes only)
4 Non-GAAP financial measure; excludes intangible amortization expense and special items
5 Excludes COVID-19 Vaccine
Note: percentages may have been rounded

 

Other modeling considerations will be provided on the webcast .

 

   WEBCAST INFORMATION:
 
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website . A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations .

 

   ABOUT JOHNSON & JOHNSON:
 
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

 

   NON-GAAP FINANCIAL MEASURES:
 
* "Operational sales growth" excluding the impact of translational currency, "adjusted operational sales growth" excluding the net impact of acquisitions and divestitures and translational currency, as well as "adjusted net earnings", "adjusted diluted earnings per share" and "adjusted operational diluted earnings per share" excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly results .

 

Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly results . These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly results .

 

   NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
 
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy, and the anticipated separation of the Company's Consumer Health business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the Company's ability to satisfy the necessary conditions to consummate the separation of the Company's Consumer Health business on a timely basis or at all; the Company's ability to successfully separate the Company's Consumer Health business and realize the anticipated benefits from the separation; the New Consumer Health Company's ability to succeed as a standalone publicly traded company; and risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the company's ability to execute business continuity plans, as a result of the COVID-19 pandemic. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov , www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
  Johnson & Johnson and Subsidiaries  
  Supplementary Sales Data  
                     
(Unaudited; Dollars in Millions)  

  THIRD QUARTER  

 
  

 

 
 

  NINE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
  

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
  Sales to customers by                      
  segment of business                      
                     
Consumer Health (1)                     
U.S.  

  $ 1,659  

 
  

  1,625  

 
  

2.1

 
 

 

 
 

%

 
 

2.1

 
  

-

 
 

 

 
   

  $ 4,903  

 
  

  4,987  

 
  

(1.7

 
 

)

 
 

%

 
 

(1.7

 
 

)

 
  

-

 
 

 

 
International  

  2,136  

 
  

  2,187  

 
  

(2.3

 
 

)

 
  

6.7

 
  

(9.0

 
 

)

 
   

  6,283  

 
  

  6,320  

 
  

(0.6

 
 

)

 
  

6.0

 
 

 

 
  

(6.6

 
 

)

 
  

  3,795  

 
  

  3,812  

 
  

(0.4

 
 

)

 
  

4.7

 
  

(5.1

 
 

)

 
   

  11,186  

 
  

  11,307  

 
  

(1.1

 
 

)

 
  

2.6

 
 

 

 
  

(3.7

 
 

)

 
                     
Pharmaceutical (1)                     
U.S.  

  7,438  

 
  

  7,221  

 
  

3.0

 
 

 

 
  

3.0

 
  

-

 
 

 

 
   

  21,229  

 
  

  20,536  

 
  

3.4

 
 

 

 
  

3.4

 
 

 

 
  

-

 
 

 

 
International  

  5,776  

 
  

  5,661  

 
  

2.0

 
 

 

 
  

16.7

 
  

(14.7

 
 

)

 
   

  18,171  

 
  

  16,927  

 
  

7.3

 
 

 

 
  

18.5

 
 

 

 
  

(11.2

 
 

)

 
  

  13,214  

 
  

  12,882  

 
  

2.6

 
 

 

 
  

9.0

 
  

(6.4

 
 

)

 
   

  39,400  

 
  

  37,463  

 
  

5.2

 
 

 

 
  

10.2

 
 

 

 
  

(5.0

 
 

)

 
                     
Pharmaceutical excluding COVID-19 Vaccine (1,3)                     
U.S.  

  7,438  

 
  

  6,951  

 
  

7.0

 
 

 

 
  

7.0

 
  

-

 
 

 

 
   

  21,109  

 
  

  20,115  

 
  

4.9

 
 

 

 
  

4.9

 
 

 

 
  

-

 
 

 

 
International  

  5,287  

 
  

  5,429  

 
  

(2.6

 
 

)

 
  

11.3

 
  

(13.9

 
 

)

 
   

  16,801  

 
  

  16,582  

 
  

1.3

 
 

 

 
  

11.7

 
 

 

 
  

(10.4

 
 

)

 
  

  12,725  

 
  

  12,380  

 
  

2.8

 
 

 

 
  

8.9

 
  

(6.1

 
 

)

 
   

  37,910  

 
  

  36,697  

 
  

3.3

 
 

 

 
  

8.0

 
 

 

 
  

(4.7

 
 

)

 
                     
MedTech (2)                     
U.S.  

  3,356  

 
  

  3,117  

 
  

7.7

 
 

 

 
  

7.7

 
  

-

 
 

 

 
   

  9,932  

 
  

  9,470  

 
  

4.9

 
 

 

 
  

4.9

 
 

 

 
  

-

 
 

 

 
International  

  3,426  

 
  

  3,527  

 
  

(2.9

 
 

)

 
  

8.5

 
  

(11.4

 
 

)

 
   

  10,719  

 
  

  10,731  

 
  

(0.1

 
 

)

 
  

8.2

 
 

 

 
  

(8.3

 
 

)

 
  

  6,782  

 
  

  6,644  

 
  

2.1

 
 

 

 
  

8.1

 
  

(6.0

 
 

)

 
   

  20,651  

 
  

  20,201  

 
  

2.2

 
 

 

 
  

6.6

 
 

 

 
  

(4.4

 
 

)

 
                     
U.S.  

  12,453  

 
  

  11,963  

 
  

4.1

 
 

 

 
  

4.1

 
  

-

 
 

 

 
   

  36,064  

 
  

  34,993  

 
  

3.1

 
 

 

 
  

3.1

 
 

 

 
  

-

 
 

 

 
International  

  11,338  

 
  

  11,375  

 
  

(0.3

 
 

)

 
  

12.3

 
  

(12.6

 
 

)

 
   

  35,173  

 
  

  33,978  

 
  

3.5

 
 

 

 
  

12.9

 
 

 

 
  

(9.4

 
 

)

 
Worldwide  

  23,791  

 
  

  23,338  

 
  

1.9

 
 

 

 
  

8.1

 
  

(6.2

 
 

)

 
   

  71,237  

 
  

  68,971  

 
  

3.3

 
 

 

 
  

7.9

 
 

 

 
  

(4.6

 
 

)

 
                     
U.S.  

  12,453  

 
  

  11,693  

 
  

6.5

 
 

 

 
  

6.5

 
  

-

 
 

 

 
   

  35,944  

 
  

  34,572  

 
  

4.0

 
 

 

 
  

4.0

 
 

 

 
  

-

 
 

 

 
International  

  10,849  

 
  

  11,143  

 
  

(2.6

 
 

)

 
  

9.5

 
  

(12.1

 
 

)

 
   

  33,803  

 
  

  33,633  

 
  

0.5

 
 

 

 
  

9.5

 
 

 

 
  

(9.0

 
 

)

 
Worldwide excluding COVID-19 Vaccine (3)  

  $ 23,302  

 
  

  22,836  

 
  

2.0

 
 

 

 
 

%

 
 

8.0

 
  

(6.0

 
 

)

 
   

  $ 69,747  

 
  

  68,205  

 
  

2.3

 
 

 

 
 

%

 
 

6.7

 
 

 

 
  

(4.4

 
 

)

 
                     
  Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
                     
  (1) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes.
  (2) Previously referred to as Medical Devices
  (3) Refer to supplemental sales reconciliation schedule
 
                                                                                                                                                                                                                                                                                                                                                   
  Johnson & Johnson and Subsidiaries  
  Supplementary Sales Data  
                     
(Unaudited; Dollars in Millions)  

  THIRD QUARTER  

 
  

 

 
 

  NINE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
  

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
  Sales to customers by                      
  geographic area                      
                     
U.S.  

  $ 12,453  

 
  

  11,963  

 
  

4.1

 
 

 

 
 

%

 
 

4.1

 
  

-

 
 

 

 
   

  $ 36,064  

 
  

  34,993  

 
  

3.1

 
 

 

 
 

%

 
 

3.1

 
  

-

 
 

 

 
                     
Europe  

  5,524  

 
  

  5,587  

 
  

(1.1

 
 

)

 
  

14.5

 
  

(15.6

 
 

)

 
   

  17,633  

 
  

  16,669  

 
  

5.8

 
 

 

 
  

18.2

 
  

(12.4

 
 

)

 
Western Hemisphere excluding U.S.  

  1,562  

 
  

  1,500  

 
  

4.1

 
 

 

 
  

9.1

 
  

(5.0

 
 

)

 
   

  4,580  

 
  

  4,291  

 
  

6.7

 
 

 

 
  

9.6

 
  

(2.9

 
 

)

 
Asia-Pacific, Africa  

  4,252  

 
  

  4,288  

 
  

(0.9

 
 

)

 
  

10.5

 
  

(11.4

 
 

)

 
   

  12,960  

 
  

  13,018  

 
  

(0.4

 
 

)

 
  

7.2

 
  

(7.6

 
 

)

 
International  

  11,338  

 
  

  11,375  

 
  

(0.3

 
 

)

 
  

12.3

 
  

(12.6

 
 

)

 
   

  35,173  

 
  

  33,978  

 
  

3.5

 
 

 

 
  

12.9

 
  

(9.4

 
 

)

 
                     
Worldwide  

  $ 23,791  

 
  

  23,338  

 
  

1.9

 
 

 

 
 

%

 
 

8.1

 
  

(6.2

 
 

)

 
   

  $ 71,237  

 
  

  68,971  

 
  

3.3

 
 

 

 
 

%

 
 

7.9

 
  

(4.6

 
 

)

 
                     
  Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
 
                                                                                                                                                                                                                                                                                                                                                                                                                           
  Johnson & Johnson and Subsidiaries  
  Condensed Consolidated Statement of Earnings  
           
  (Unaudited; in Millions Except Per Share Figures)    THIRD QUARTER  
           
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Percent

 
  

 

 
 

 

 
 

  Percent  

 
 

 

 
 

 

 
 

 

 
 

  Percent  

 
 

 

 
 

Increase

 
  

  Amount  

 
 

 

 
 

  to Sales  

 
 

 

 
 

  Amount  

 
 

 

 
 

  to Sales  

 
 

 

 
 

(Decrease)

 
  Sales to customers   

  $  

 
 

  23,791  

 
 

 

 
  

  100.0  

 
 

 

 
  

  $  

 
 

  23,338  

 
  

  100.0  

 
   

1.9

 
 

 

 
  Cost of products sold   

 

 
 

  7,807  

 
 

 

 
  

  32.8  

 
 

 

 
  

 

 
 

  7,250  

 
  

  31.1  

 
   

7.7

 
 

 

 
  Gross Profit   

 

 
 

  15,984  

 
 

 

 
  

  67.2  

 
 

 

 
  

 

 
 

  16,088  

 
  

  68.9  

 
   

(0.6

 
 

)

 
  Selling, marketing and administrative expenses   

 

 
 

  6,089  

 
 

 

 
  

  25.6  

 
 

 

 
  

 

 
 

  6,000  

 
  

  25.7  

 
   

1.5

 
 

 

 
  Research and development expense   

 

 
 

  3,597  

 
 

 

 
  

  15.1  

 
 

 

 
  

 

 
 

  3,422  

 
  

  14.7  

 
   

5.1

 
 

 

 
  In-process research and development   

 

 
 

  -  

 
 

 

 
  

  -  

 
 

 

 
  

 

 
 

  900  

 
  

  3.9  

 
   
  Interest (income) expense, net   

 

 
 

  (99  

 
 

  )  

 
  

  (0.4  

 
 

  )  

 
  

 

 
 

  7  

 
  

  0.0  

 
   
  Other (income) expense, net   

 

 
 

  493  

 
 

 

 
  

  2.1  

 
 

 

 
  

 

 
 

  1,850  

 
  

  7.9  

 
   
  Restructuring   

 

 
 

  82  

 
 

 

 
  

  0.3  

 
 

 

 
  

 

 
 

  60  

 
  

  0.2  

 
   
  Earnings before provision for taxes on income   

 

 
 

  5,822  

 
 

 

 
  

  24.5  

 
 

 

 
  

 

 
 

  3,849  

 
  

  16.5  

 
   

51.3

 
 

 

 
  Provision for taxes on income   

 

 
 

  1,364  

 
 

 

 
  

  5.8  

 
 

 

 
  

 

 
 

  182  

 
  

  0.8  

 
   

649.5

 
 

 

 
  Net earnings   

  $  

 
 

  4,458  

 
 

 

 
  

  18.7  

 
 

 

 
  

  $  

 
 

  3,667  

 
  

  15.7  

 
   

21.6

 
 

 

 
           
  Net earnings per share (Diluted)   

  $  

 
 

  1.68  

 
 

 

 
    

  $  

 
 

  1.37  

 
     

22.6

 
 

 

 
           
  Average shares outstanding (Diluted)   

 

 
 

  2,661.3  

 
 

 

 
    

 

 
 

  2,674.9  

 
     
           
  Effective tax rate   

 

 
 

  23.4  

 
 

 

 
 

  %  

 
   

 

 
 

  4.7  

 
 

  %  

 
    
           
  Adjusted earnings before provision for taxes and net earnings (1)            
  Earnings before provision for taxes on income   

  $  

 
 

  8,073  

 
 

 

 
  

  33.9  

 
 

 

 
  

  $  

 
 

  8,058  

 
  

  34.5  

 
   

0.2

 
 

 

 
  Net earnings   

  $  

 
 

  6,779  

 
 

 

 
  

  28.5  

 
 

 

 
  

  $  

 
 

  6,968  

 
  

  29.9  

 
   

(2.7

 
 

)

 
  Net earnings per share (Diluted)   

  $  

 
 

  2.55  

 
 

 

 
    

  $  

 
 

  2.60  

 
     

(1.9

 
 

)

 
  Effective tax rate   

 

 
 

  16.0  

 
 

 

 
 

  %  

 
   

 

 
 

  13.5  

 
 

  %  

 
    
           
  (1) See Reconciliation of Non-GAAP Financial Measures.
 
                                                                                                                                                                                                                                                                                                                                                                                             
  Johnson & Johnson and Subsidiaries  
  Condensed Consolidated Statement of Earnings  
          
  (Unaudited; in Millions Except Per Share Figures)    NINE MONTHS  
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

  2022  

 
 

 

 
 

  2021  

 
 

Percent

 
  

 

 
 

 

 
 

  Percent  

 
 

 

 
 

 

 
 

 

 
 

  Percent  

 
 

Increase

 
  

  Amount  

 
 

 

 
 

  to Sales  

 
 

 

 
 

  Amount  

 
 

 

 
 

  to Sales  

 
 

(Decrease)

 
  Sales to customers   

  $  

 
 

  71,237  

 
 

 

 
  

  100.0  

 
 

 

 
  

  $  

 
 

  68,971  

 
  

  100.0  

 
  

3.3

 
 

 

 
  Cost of products sold   

 

 
 

  23,324  

 
 

 

 
  

  32.7  

 
 

 

 
  

 

 
 

  21,900  

 
  

  31.8  

 
  

6.5

 
 

 

 
  Gross Profit   

 

 
 

  47,913  

 
 

 

 
  

  67.3  

 
 

 

 
  

 

 
 

  47,071  

 
  

  68.2  

 
  

1.8

 
 

 

 
  Selling, marketing and administrative expenses   

 

 
 

  18,253  

 
 

 

 
  

  25.7  

 
 

 

 
  

 

 
 

  17,505  

 
  

  25.4  

 
  

4.3

 
 

 

 
  Research and development expense   

 

 
 

  10,762  

 
 

 

 
  

  15.1  

 
 

 

 
  

 

 
 

  9,994  

 
  

  14.5  

 
  

7.7

 
 

 

 
  In-process research and development   

 

 
 

  610  

 
 

 

 
  

  0.9  

 
 

 

 
  

 

 
 

  900  

 
  

  1.3  

 
  
  Interest (income) expense, net   

 

 
 

  (137  

 
 

  )  

 
  

  (0.2  

 
 

  )  

 
  

 

 
 

  83  

 
  

  0.1  

 
  
  Other (income) expense, net   

 

 
 

  664  

 
 

 

 
  

  0.9  

 
 

 

 
  

 

 
 

  480  

 
  

  0.7  

 
  
  Restructuring   

 

 
 

  237  

 
 

 

 
  

  0.3  

 
 

 

 
  

 

 
 

  169  

 
  

  0.2  

 
  
  Earnings before provision for taxes on income   

 

 
 

  17,524  

 
 

 

 
  

  24.6  

 
 

 

 
  

 

 
 

  17,940  

 
  

  26.0  

 
  

(2.3

 
 

)

 
  Provision for taxes on income   

 

 
 

  3,103  

 
 

 

 
  

  4.4  

 
 

 

 
  

 

 
 

  1,798  

 
  

  2.6  

 
  

72.6

 
 

 

 
  Net earnings   

  $  

 
 

  14,421  

 
 

 

 
  

  20.2  

 
 

 

 
  

  $  

 
 

  16,142  

 
  

  23.4  

 
  

(10.7

 
 

)

 
          
  Net earnings per share (Diluted)   

  $  

 
 

  5.41  

 
 

 

 
    

  $  

 
 

  6.04  

 
    

(10.4

 
 

)

 
          
  Average shares outstanding (Diluted)   

 

 
 

  2,667.5  

 
 

 

 
    

 

 
 

  2,674.6  

 
    
          
  Effective tax rate   

 

 
 

  17.7  

 
 

 

 
 

  %  

 
   

 

 
 

  10.0  

 
 

  %  

 
   
          
  Adjusted earnings before provision for taxes and net earnings (1)           
  Earnings before provision for taxes on income   

  $  

 
 

  24,462  

 
 

 

 
  

  34.3  

 
 

 

 
  

  $  

 
 

  24,125  

 
  

  35.0  

 
  

1.4

 
 

 

 
  Net earnings   

  $  

 
 

  20,820  

 
 

 

 
  

  29.2  

 
 

 

 
  

  $  

 
 

  20,517  

 
  

  29.7  

 
  

1.5

 
 

 

 
  Net earnings per share (Diluted)   

  $  

 
 

  7.81  

 
 

 

 
    

  $  

 
 

  7.67  

 
    

1.8

 
 

 

 
  Effective tax rate   

 

 
 

  14.9  

 
 

 

 
 

  %  

 
   

 

 
 

  15.0  

 
 

  %  

 
   
          
  (1) See Reconciliation of Non-GAAP Financial Measures.
 
                                                                                                                                                                                                                                                                                                                                                          
  Johnson & Johnson and Subsidiaries  
  Reconciliation of Non-GAAP Financial Measures  
         
   

  Third Quarter  

 
 

 

 
 

  Nine Months Ended  

 
  (Dollars in Millions Except Per Share Data)  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
  Net Earnings, after tax- as reported  

  $4,458  

 
 

 

 
  

  $3,667  

 
 

 

 
  

  $14,421  

 
 

 

 
  

  $16,142  

 
 

 

 
         
  Pre-tax Adjustments        
  Intangible Asset Amortization expense  

1,041

 
 

 

 
  

1,159

 
 

 

 
  

3,244

 
 

 

 
  

3,576

 
 

 

 
  Litigation related  

219

 
 

 

 
  

2,077

 
 

 

 
  

604

 
 

 

 
  

2,054

 
 

 

 
  IPR&D  

-

 
 

 

 
  

900

 
 

 

 
  

610

 
 

 

 
  

900

 
 

 

 
  Restructuring related  

123

 
 

 

 
  

121

 
 

 

 
  

323

 
 

 

 
  

333

 
 

 

 
  Acquisition, integration and divestiture related ¹  

-

 
 

 

 
  

20

 
 

 

 
  

-

 
 

 

 
  

(504

 
 

)

 
  (Gains)/losses on securities  

164

 
 

 

 
  

(127

 
 

)

 
  

684

 
 

 

 
  

(335

 
 

)

 
  Medical Device Regulation 2  

78

 
 

 

 
  

59

 
 

 

 
  

208

 
 

 

 
  

161

 
 

 

 
  COVID-19 Vaccine related costs 3  

377

 
 

 

 
  

-

 
 

 

 
  

653

 
 

 

 
  

-

 
 

 

 
  Consumer Health separation costs  

249

 
 

 

 
  

-

 
 

 

 
  

619

 
 

 

 
  

-

 
 

 

 
  Other  

-

 
 

 

 
  

-

 
 

 

 
  

(7

 
 

)

 
  

-

 
 

 

 
         
  Tax Adjustments        
  Tax impact on special item adjustments 4  

(379

 
 

)

 
  

(849

 
 

)

 
  

(1,085

 
 

)

 
  

(1,097

 
 

)

 
  Consumer Health separation tax related costs  

361

 
 

 

 
  

-

 
 

 

 
  

459

 
 

 

 
  

-

 
 

 

 
  Tax legislation and other tax related  

88

 
 

 

 
  

(59

 
 

)

 
  

87

 
 

 

 
  

(713

 
 

)

 
  Adjusted Net Earnings, after tax  

  $6,779  

 
 

 

 
  

  $6,968  

 
 

 

 
  

  $20,820  

 
 

 

 
  

  $20,517  

 
 

 

 
  Average shares outstanding (Diluted)  

2,661.3

 
 

 

 
  

2,674.9

 
 

 

 
  

2,667.5

 
 

 

 
  

2,674.6

 
 

 

 
  Adjusted net earnings per share (Diluted)  

  $2.55  

 
 

 

 
  

  $2.60  

 
 

 

 
  

  $7.81  

 
 

 

 
  

  $7.67  

 
 

 

 
  Operational adjusted net earnings per share (Diluted)  

  $2.75  

 
 

 

 
    

  $8.25  

 
 

 

 
  
         
   Notes:         
 

  1

 
Acquisition, integration and divestiture related for the nine months of 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S.
         
 

  2

 
European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company's previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024.
         
 

  3

 
COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's modification of its COVID-19 vaccine research program and manufacturing capacity to levels that meet all customer contractual requirements.
         
 

  4

 
The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.
 
                                                                                                                                                                                                                                                                                                                   
  Johnson & Johnson and Subsidiaries  
  Reconciliation of Non-GAAP Financial Measure  
          
   Adjusted Operational Sales Growth   
  THIRD QUARTER 2022 ACTUAL vs. 2021 ACTUAL  
 
  Segments  
          
     Consumer Health     Pharmaceutical     MedTech     Total  
          
  WW As Reported     

  (0.4  

 
 

  )%  

 
  

  2.6  

 
 

  %  

 
  

  2.1  

 
 

  %  

 
  

  1.9  

 
 

  %  

 
U.S.    

2.1

 
 

%

 
  

3.0

 
 

%

 
  

7.7

 
 

%

 
  

4.1

 
 

%

 
International    

(2.3

 
 

)%

 
  

2.0

 
 

%

 
  

(2.9

 
 

)%

 
  

(0.3

 
 

)%

 
          
  WW Currency     

  (5.1  

 
 

  )  

 
  

  (6.4  

 
 

  )  

 
  

  (6.0  

 
 

  )  

 
  

  (6.2  

 
 

  )  

 
U.S.    

  -  

 
 

 

 
  

  -  

 
 

 

 
  

  -  

 
 

 

 
  

  -  

 
 

 

 
International    

(9.0

 
 

)

 
  

(14.7

 
 

)

 
  

(11.4

 
 

)

 
  

(12.6

 
 

)

 
          
  WW Operational     

  4.7  

 
 

  %  

 
  

  9.0  

 
 

  %  

 
  

  8.1  

 
 

  %  

 
  

  8.1  

 
 

  %  

 
U.S.    

2.1

 
 

%

 
  

3.0

 
 

%

 
  

7.7

 
 

%

 
  

4.1

 
 

%

 
International    

6.7

 
 

%

 
  

16.7

 
 

%

 
  

8.5

 
 

%

 
  

12.3

 
 

%

 
          
  All Other Acquisitions and Divestitures     

  0.1  

 
 

 

 
  

  0.2  

 
 

 

 
  

  0.0  

 
 

 

 
  

  0.1  

 
 

 

 
U.S.    

0.2

 
 

 

 
  

0.2

 
 

 

 
  

(0.2

 
 

)

 
  

0.1

 
 

 

 
International    

0.0

 
 

 

 
  

0.1

 
 

 

 
  

0.2

 
 

 

 
  

0.1

 
 

 

 
          
  WW Adjusted Operational     

  4.8  

 
 

  %  

 
  

  9.2  

 
 

  %  

 
  

  8.1  

 
 

  %  

 
  

  8.2  

 
 

  %  

 
U.S.    

2.3

 
 

%

 
  

3.2

 
 

%

 
  

7.5

 
 

%

 
  

4.2

 
 

%

 
International    

6.7

 
 

%

 
  

16.8

 
 

%

 
  

8.7

 
 

%

 
  

12.4

 
 

%

 
          
  Note: Percentages are based on actual, non-rounded figures and may not sum.
 
                                                                                                                                                                                                                                                                                                                   
  Johnson & Johnson and Subsidiaries  
  Reconciliation of Non-GAAP Financial Measure  
          
   Adjusted Operational Sales Growth   
  NINE MONTHS 2022 ACTUAL vs. 2021 ACTUAL  
 
  Segments  
          
     Consumer Health     Pharmaceutical     MedTech     Total  
          
  WW As Reported     

  (1.1  

 
 

  )%  

 
  

  5.2  

 
 

  %  

 
  

  2.2  

 
 

  %  

 
  

  3.3  

 
 

  %  

 
U.S.    

(1.7

 
 

)%

 
  

3.4

 
 

%

 
  

4.9

 
 

%

 
  

3.1

 
 

%

 
International    

(0.6

 
 

)%

 
  

7.3

 
 

%

 
  

(0.1

 
 

)%

 
  

3.5

 
 

%

 
          
  WW Currency     

  (3.7  

 
 

  )  

 
  

  (5.0  

 
 

  )  

 
  

  (4.4  

 
 

  )  

 
  

  (4.6  

 
 

  )  

 
U.S.    

  -  

 
 

 

 
  

  -  

 
 

 

 
  

  -  

 
 

 

 
  

  -  

 
 

 

 
International    

(6.6

 
 

)

 
  

(11.2

 
 

)

 
  

(8.3

 
 

)

 
  

(9.4

 
 

)

 
          
  WW Operational     

  2.6  

 
 

  %  

 
  

  10.2  

 
 

  %  

 
  

  6.6  

 
 

  %  

 
  

  7.9  

 
 

  %  

 
U.S.    

(1.7

 
 

)%

 
  

3.4

 
 

%

 
  

4.9

 
 

%

 
  

3.1

 
 

%

 
International    

6.0

 
 

%

 
  

18.5

 
 

%

 
  

8.2

 
 

%

 
  

12.9

 
 

%

 
          
  All Other Acquisitions and Divestitures     

  0.5  

 
 

 

 
  

  0.1  

 
 

 

 
  

  0.1  

 
 

 

 
  

  0.2  

 
 

 

 
U.S.    

0.2

 
 

 

 
  

0.1

 
 

 

 
  

(0.2

 
 

)

 
  

0.1

 
 

 

 
International    

0.7

 
 

 

 
  

0.1

 
 

 

 
  

0.2

 
 

 

 
  

0.2

 
 

 

 
          
  WW Adjusted Operational     

  3.1  

 
 

  %  

 
  

  10.3  

 
 

  %  

 
  

  6.7  

 
 

  %  

 
  

  8.1  

 
 

  %  

 
U.S.    

(1.5

 
 

)%

 
  

3.5

 
 

%

 
  

4.7

 
 

%

 
  

3.2

 
 

%

 
International    

6.7

 
 

%

 
  

18.6

 
 

%

 
  

8.4

 
 

%

 
  

13.1

 
 

%

 
          
  Note: Percentages are based on actual, non-rounded figures and may not sum.
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
     REPORTED SALES vs. PRIOR PERIOD ($MM)        REPORTED SALES vs. PRIOR PERIOD ($MM)   
   THIRD QUARTER     NINE MONTHS  
   

 

 
 

 

 
 

 

 
  

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

  % Change  

 
   

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
   CONSUMER HEALTH SEGMENT    (2,3)                        
  OTC                       
US   

  $  

 
 

  695  

 
  

  686  

 
  

1.4

 
 

%

 
  

1.4

 
 

%

 
  

-

 
 

 

 
   

  $  

 
 

  2,028  

 
  

  1,960  

 
  

3.5

 
 

%

 
  

3.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  825  

 
  

  798  

 
  

3.4

 
 

%

 
  

12.2

 
 

%

 
  

-8.8

 
 

%

 
   

 

 
 

  2,434  

 
  

  2,223  

 
  

9.5

 
 

%

 
  

16.3

 
 

%

 
  

-6.8

 
 

%

 
WW   

 

 
 

  1,519  

 
  

  1,484  

 
  

2.5

 
 

%

 
  

7.2

 
 

%

 
  

-4.7

 
 

%

 
   

 

 
 

  4,462  

 
  

  4,183  

 
  

6.7

 
 

%

 
  

10.3

 
 

%

 
  

-3.6

 
 

%

 
  SKIN HEALTH / BEAUTY                       
US   

 

 
 

  591  

 
  

  569  

 
  

3.7

 
 

%

 
  

3.7

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,764  

 
  

  1,862  

 
  

-5.3

 
 

%

 
  

-5.3

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  535  

 
  

  555  

 
  

-3.6

 
 

%

 
  

6.2

 
 

%

 
  

-9.8

 
 

%

 
   

 

 
 

  1,500  

 
  

  1,595  

 
  

-6.0

 
 

%

 
  

1.5

 
 

%

 
  

-7.5

 
 

%

 
WW   

 

 
 

  1,126  

 
  

  1,124  

 
  

0.1

 
 

%

 
  

5.0

 
 

%

 
  

-4.9

 
 

%

 
   

 

 
 

  3,264  

 
  

  3,457  

 
  

-5.6

 
 

%

 
  

-2.2

 
 

%

 
  

-3.4

 
 

%

 
  ORAL CARE                       
US   

 

 
 

  158  

 
  

  150  

 
  

5.2

 
 

%

 
  

5.2

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  471  

 
  

  478  

 
  

-1.5

 
 

%

 
  

-1.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  217  

 
  

  248  

 
  

-12.4

 
 

%

 
  

-4.3

 
 

%

 
  

-8.1

 
 

%

 
   

 

 
 

  664  

 
  

  762  

 
  

-12.8

 
 

%

 
  

-7.2

 
 

%

 
  

-5.6

 
 

%

 
WW   

 

 
 

  375  

 
  

  398  

 
  

-5.8

 
 

%

 
  

-0.7

 
 

%

 
  

-5.1

 
 

%

 
   

 

 
 

  1,135  

 
  

  1,240  

 
  

-8.5

 
 

%

 
  

-5.0

 
 

%

 
  

-3.5

 
 

%

 
  BABY CARE                       
US   

 

 
 

  91  

 
  

  95  

 
  

-4.0

 
 

%

 
  

-4.0

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  264  

 
  

  288  

 
  

-8.2

 
 

%

 
  

-8.2

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  283  

 
  

  296  

 
  

-4.5

 
 

%

 
  

3.4

 
 

%

 
  

-7.9

 
 

%

 
   

 

 
 

  840  

 
  

  879  

 
  

-4.4

 
 

%

 
  

0.8

 
 

%

 
  

-5.2

 
 

%

 
WW   

 

 
 

  375  

 
  

  391  

 
  

-4.3

 
 

%

 
  

1.6

 
 

%

 
  

-5.9

 
 

%

 
   

 

 
 

  1,105  

 
  

  1,167  

 
  

-5.4

 
 

%

 
  

-1.5

 
 

%

 
  

-3.9

 
 

%

 
  WOMEN'S HEALTH                       
US   

 

 
 

  2  

 
  

  3  

 
  

-22.0

 
 

%

 
  

-22.0

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  9  

 
  

  9  

 
  

-2.8

 
 

%

 
  

-2.8

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  222  

 
  

  229  

 
  

-2.7

 
 

%

 
  

8.4

 
 

%

 
  

-11.1

 
 

%

 
   

 

 
 

  674  

 
  

  675  

 
  

-0.1

 
 

%

 
  

8.0

 
 

%

 
  

-8.1

 
 

%

 
WW   

 

 
 

  225  

 
  

  232  

 
  

-3.0

 
 

%

 
  

7.9

 
 

%

 
  

-10.9

 
 

%

 
   

 

 
 

  684  

 
  

  684  

 
  

-0.1

 
 

%

 
  

7.8

 
 

%

 
  

-7.9

 
 

%

 
  WOUND CARE / OTHER                       
US   

 

 
 

  122  

 
  

  122  

 
  

-0.2

 
 

%

 
  

-0.2

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  366  

 
  

  390  

 
  

-6.0

 
 

%

 
  

-6.0

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  53  

 
  

  61  

 
  

-11.4

 
 

%

 
  

-7.1

 
 

%

 
  

-4.3

 
 

%

 
   

 

 
 

  170  

 
  

  186  

 
  

-8.2

 
 

%

 
  

-5.4

 
 

%

 
  

-2.8

 
 

%

 
WW   

 

 
 

  176  

 
  

  182  

 
  

-3.9

 
 

%

 
  

-2.5

 
 

%

 
  

-1.4

 
 

%

 
   

 

 
 

  537  

 
  

  575  

 
  

-6.7

 
 

%

 
  

-5.8

 
 

%

 
  

-0.9

 
 

%

 
                      
   TOTAL CONSUMER HEALTH                        
  US    

 

 
 

  1,659  

 
  

  1,625  

 
  

  2.1  

 
 

  %  

 
  

  2.1  

 
 

  %  

 
  

  -  

 
 

 

 
   

 

 
 

  4,903  

 
  

  4,987  

 
  

  -1.7  

 
 

  %  

 
  

  -1.7  

 
 

  %  

 
  

  -  

 
 

 

 
  Intl    

 

 
 

  2,136  

 
  

  2,187  

 
  

  -2.3  

 
 

  %  

 
  

  6.7  

 
 

  %  

 
  

  -9.0  

 
 

  %  

 
   

 

 
 

  6,283  

 
  

  6,320  

 
  

  -0.6  

 
 

  %  

 
  

  6.0  

 
 

  %  

 
  

  -6.6  

 
 

  %  

 
  WW    

  $  

 
 

  3,795  

 
  

  3,812  

 
  

  -0.4  

 
 

  %  

 
  

  4.7  

 
 

  %  

 
  

  -5.1  

 
 

  %  

 
   

  $  

 
 

  11,186  

 
  

  11,307  

 
  

  -1.1  

 
 

  %  

 
  

  2.6  

 
 

  %  

 
  

  -3.7  

 
 

  %  

 
                      
                      
See footnotes at end of schedule   
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
     REPORTED SALES vs. PRIOR PERIOD ($MM)        REPORTED SALES vs. PRIOR PERIOD ($MM)   
   THIRD QUARTER      NINE MONTHS  
        % Change          % Change  
   PHARMACEUTICAL SEGMENT    (2,3)     

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
                      
   IMMUNOLOGY                        
US   

  $  

 
 

  2,876  

 
  

  2,771  

 
  

3.8

 
 

%

 
  

3.8

 
 

%

 
  

-

 
 

 

 
   

  $  

 
 

  8,230  

 
  

  7,932  

 
  

3.8

 
 

%

 
  

3.8

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  1,411  

 
  

  1,480  

 
  

-4.7

 
 

%

 
  

8.9

 
 

%

 
  

-13.6

 
 

%

 
   

 

 
 

  4,587  

 
  

  4,464  

 
  

2.8

 
 

%

 
  

12.9

 
 

%

 
  

-10.1

 
 

%

 
WW   

 

 
 

  4,287  

 
  

  4,250  

 
  

0.9

 
 

%

 
  

5.6

 
 

%

 
  

-4.7

 
 

%

 
   

 

 
 

  12,817  

 
  

  12,395  

 
  

3.4

 
 

%

 
  

7.1

 
 

%

 
  

-3.7

 
 

%

 
  REMICADE                       
US   

 

 
 

  350  

 
  

  480  

 
  

-27.0

 
 

%

 
  

-27.0

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,099  

 
  

  1,508  

 
  

-27.1

 
 

%

 
  

-27.1

 
 

%

 
  

-

 
 

 

 
US Exports (4)   

 

 
 

  39  

 
  

  47  

 
  

-16.9

 
 

%

 
  

-16.9

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  163  

 
  

  197  

 
  

-17.2

 
 

%

 
  

-17.2

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  169  

 
  

  234  

 
  

-27.8

 
 

%

 
  

-22.8

 
 

%

 
  

-5.0

 
 

%

 
   

 

 
 

  606  

 
  

  721  

 
  

-16.0

 
 

%

 
  

-11.9

 
 

%

 
  

-4.1

 
 

%

 
WW   

 

 
 

  558  

 
  

  761  

 
  

-26.6

 
 

%

 
  

-25.1

 
 

%

 
  

-1.5

 
 

%

 
   

 

 
 

  1,868  

 
  

  2,426  

 
  

-23.0

 
 

%

 
  

-21.8

 
 

%

 
  

-1.2

 
 

%

 
  SIMPONI / SIMPONI ARIA                       
US   

 

 
 

  298  

 
  

  295  

 
  

0.9

 
 

%

 
  

0.9

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  886  

 
  

  840  

 
  

5.4

 
 

%

 
  

5.4

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  248  

 
  

  276  

 
  

-10.4

 
 

%

 
  

3.0

 
 

%

 
  

-13.4

 
 

%

 
   

 

 
 

  797  

 
  

  877  

 
  

-9.2

 
 

%

 
  

0.4

 
 

%

 
  

-9.6

 
 

%

 
WW   

 

 
 

  545  

 
  

  571  

 
  

-4.6

 
 

%

 
  

1.9

 
 

%

 
  

-6.5

 
 

%

 
   

 

 
 

  1,682  

 
  

  1,717  

 
  

-2.0

 
 

%

 
  

2.9

 
 

%

 
  

-4.9

 
 

%

 
  STELARA                       
US   

 

 
 

  1,655  

 
  

  1,569  

 
  

5.5

 
 

%

 
  

5.5

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  4,766  

 
  

  4,396  

 
  

8.4

 
 

%

 
  

8.4

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  794  

 
  

  809  

 
  

-1.9

 
 

%

 
  

12.9

 
 

%

 
  

-14.8

 
 

%

 
   

 

 
 

  2,571  

 
  

  2,404  

 
  

6.9

 
 

%

 
  

18.2

 
 

%

 
  

-11.3

 
 

%

 
WW   

 

 
 

  2,449  

 
  

  2,378  

 
  

3.0

 
 

%

 
  

8.0

 
 

%

 
  

-5.0

 
 

%

 
   

 

 
 

  7,336  

 
  

  6,800  

 
  

7.9

 
 

%

 
  

11.9

 
 

%

 
  

-4.0

 
 

%

 
  TREMFYA                       
US   

 

 
 

  530  

 
  

  376  

 
  

40.7

 
 

%

 
  

40.7

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,303  

 
  

  975  

 
  

33.6

 
 

%

 
  

33.6

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  200  

 
  

  161  

 
  

24.6

 
 

%

 
  

44.5

 
 

%

 
  

-19.9

 
 

%

 
   

 

 
 

  613  

 
  

  459  

 
  

33.7

 
 

%

 
  

49.0

 
 

%

 
  

-15.3

 
 

%

 
WW   

 

 
 

  729  

 
  

  537  

 
  

35.9

 
 

%

 
  

41.9

 
 

%

 
  

-6.0

 
 

%

 
   

 

 
 

  1,916  

 
  

  1,434  

 
  

33.6

 
 

%

 
  

38.5

 
 

%

 
  

-4.9

 
 

%

 
  OTHER IMMUNOLOGY                       
US   

 

 
 

  5  

 
  

  3  

 
  

*

 
  

*

 
  

-

 
 

 

 
   

 

 
 

  14  

 
  

  15  

 
  

-3.5

 
 

%

 
  

-3.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  0  

 
  

  0  

 
  

*

 
  

*

 
  

*

 
   

 

 
 

  0  

 
  

  3  

 
  

*

 
  

*

 
  

*

 
WW   

 

 
 

  5  

 
  

  3  

 
  

*

 
  

*

 
  

*

 
   

 

 
 

  14  

 
  

  18  

 
  

-19.3

 
 

%

 
  

-19.3

 
 

%

 
  

0.0

 
 

%

 
   INFECTIOUS DISEASES                        
US   

 

 
 

  390  

 
  

  679  

 
  

-42.7

 
 

%

 
  

-42.7

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,266  

 
  

  1,635  

 
  

-22.6

 
 

%

 
  

-22.6

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  905  

 
  

  698  

 
  

29.7

 
 

%

 
  

49.1

 
 

%

 
  

-19.4

 
 

%

 
   

 

 
 

  2,642  

 
  

  1,758  

 
  

50.3

 
 

%

 
  

67.1

 
 

%

 
  

-16.8

 
 

%

 
WW   

 

 
 

  1,295  

 
  

  1,378  

 
  

-6.0

 
 

%

 
  

3.8

 
 

%

 
  

-9.8

 
 

%

 
   

 

 
 

  3,908  

 
  

  3,394  

 
  

15.2

 
 

%

 
  

23.9

 
 

%

 
  

-8.7

 
 

%

 
  COVID-19 VACCINE                       
US   

 

 
 

  0  

 
  

  270  

 
  

*

 
  

*

 
  

-

 
 

 

 
   

 

 
 

  120  

 
  

  421  

 
  

-71.5

 
 

%

 
  

-71.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  489  

 
  

  233  

 
  

*

 
  

*

 
  

*

 
   

 

 
 

  1,370  

 
  

  346  

 
  

*

 
  

*

 
  

*

 
WW   

 

 
 

  489  

 
  

  502  

 
  

-2.7

 
 

%

 
  

13.1

 
 

%

 
  

-15.8

 
 

%

 
   

 

 
 

  1,490  

 
  

  766  

 
  

*

 
  

*

 
  

*

 
  EDURANT / rilpivirine                       
US   

 

 
 

  9  

 
  

  12  

 
  

-27.1

 
 

%

 
  

-27.1

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  27  

 
  

  31  

 
  

-14.5

 
 

%

 
  

-14.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  237  

 
  

  247  

 
  

-4.2

 
 

%

 
  

9.8

 
 

%

 
  

-14.0

 
 

%

 
   

 

 
 

  691  

 
  

  733  

 
  

-5.7

 
 

%

 
  

4.8

 
 

%

 
  

-10.5

 
 

%

 
WW   

 

 
 

  245  

 
  

  259  

 
  

-5.2

 
 

%

 
  

8.2

 
 

%

 
  

-13.4

 
 

%

 
   

 

 
 

  718  

 
  

  764  

 
  

-6.1

 
 

%

 
  

4.0

 
 

%

 
  

-10.1

 
 

%

 
  PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA                       
US   

 

 
 

  372  

 
  

  380  

 
  

-2.2

 
 

%

 
  

-2.2

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,096  

 
  

  1,128  

 
  

-2.9

 
 

%

 
  

-2.9

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  112  

 
  

  137  

 
  

-17.9

 
 

%

 
  

-6.3

 
 

%

 
  

-11.6

 
 

%

 
   

 

 
 

  354  

 
  

  440  

 
  

-19.5

 
 

%

 
  

-11.2

 
 

%

 
  

-8.3

 
 

%

 
WW   

 

 
 

  485  

 
  

  517  

 
  

-6.4

 
 

%

 
  

-3.3

 
 

%

 
  

-3.1

 
 

%

 
   

 

 
 

  1,450  

 
  

  1,568  

 
  

-7.5

 
 

%

 
  

-5.2

 
 

%

 
  

-2.3

 
 

%

 
  OTHER INFECTIOUS DISEASES                       
US   

 

 
 

  10  

 
  

  18  

 
  

-46.4

 
 

%

 
  

-46.4

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  24  

 
  

  55  

 
  

-57.2

 
 

%

 
  

-57.2

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  68  

 
  

  82  

 
  

-17.1

 
 

%

 
  

-10.8

 
 

%

 
  

-6.3

 
 

%

 
   

 

 
 

  228  

 
  

  240  

 
  

-5.0

 
 

%

 
  

0.2

 
 

%

 
  

-5.2

 
 

%

 
WW   

 

 
 

  77  

 
  

  99  

 
  

-22.4

 
 

%

 
  

-17.2

 
 

%

 
  

-5.2

 
 

%

 
   

 

 
 

  251  

 
  

  295  

 
  

-14.8

 
 

%

 
  

-10.6

 
 

%

 
  

-4.2

 
 

%

 
                      
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
     REPORTED SALES vs. PRIOR PERIOD ($MM)        REPORTED SALES vs. PRIOR PERIOD ($MM)   
   THIRD QUARTER      NINE MONTHS  
   

 

 
 

 

 
 

 

 
  

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

  % Change  

 
   

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
   NEUROSCIENCE                        
US   

  919  

 
  

  835  

 
  

10.0

 
 

%

 
  

10.0

 
 

%

 
  

-

 
 

 

 
   

  2,658  

 
  

  2,448  

 
  

8.6

 
 

%

 
  

8.6

 
 

%

 
  

-

 
 

 

 
Intl   

  763  

 
  

  845  

 
  

-9.9

 
 

%

 
  

1.8

 
 

%

 
  

-11.7

 
 

%

 
   

  2,498  

 
  

  2,751  

 
  

-9.2

 
 

%

 
  

-0.6

 
 

%

 
  

-8.6

 
 

%

 
WW   

  1,681  

 
  

  1,680  

 
  

0.0

 
 

%

 
  

5.9

 
 

%

 
  

-5.9

 
 

%

 
   

  5,156  

 
  

  5,199  

 
  

-0.8

 
 

%

 
  

3.7

 
 

%

 
  

-4.5

 
 

%

 
  CONCERTA / Methylphenidate                       
US   

  41  

 
  

  35  

 
  

19.3

 
 

%

 
  

19.3

 
 

%

 
  

-

 
 

 

 
   

  114  

 
  

  117  

 
  

-2.2

 
 

%

 
  

-2.2

 
 

%

 
  

-

 
 

 

 
Intl   

  117  

 
  

  122  

 
  

-4.4

 
 

%

 
  

8.0

 
 

%

 
  

-12.4

 
 

%

 
   

  362  

 
  

  372  

 
  

-2.6

 
 

%

 
  

6.5

 
 

%

 
  

-9.1

 
 

%

 
WW   

  158  

 
  

  157  

 
  

0.8

 
 

%

 
  

10.5

 
 

%

 
  

-9.7

 
 

%

 
   

  476  

 
  

  489  

 
  

-2.5

 
 

%

 
  

4.4

 
 

%

 
  

-6.9

 
 

%

 
 

  INVEGA SUSTENNA / XEPLION /  

 

  I   NVEGA TRINZA / TREVICTA  

 
                     
US   

  684  

 
  

  648  

 
  

5.3

 
 

%

 
  

5.3

 
 

%

 
  

-

 
 

 

 
   

  2,036  

 
  

  1,882  

 
  

8.1

 
 

%

 
  

8.1

 
 

%

 
  

-

 
 

 

 
Intl   

  348  

 
  

  355  

 
  

-2.3

 
 

%

 
  

12.2

 
 

%

 
  

-14.5

 
 

%

 
   

  1,097  

 
  

  1,111  

 
  

-1.3

 
 

%

 
  

9.4

 
 

%

 
  

-10.7

 
 

%

 
WW   

  1,031  

 
  

  1,004  

 
  

2.6

 
 

%

 
  

7.8

 
 

%

 
  

-5.2

 
 

%

 
   

  3,132  

 
  

  2,994  

 
  

4.6

 
 

%

 
  

8.6

 
 

%

 
  

-4.0

 
 

%

 
  RISPERDAL CONSTA                       
US   

  67  

 
  

  71  

 
  

-6.1

 
 

%

 
  

-6.1

 
 

%

 
  

-

 
 

 

 
   

  195  

 
  

  210  

 
  

-7.1

 
 

%

 
  

-7.1

 
 

%

 
  

-

 
 

 

 
Intl   

  52  

 
  

  69  

 
  

-24.2

 
 

%

 
  

-11.3

 
 

%

 
  

-12.9

 
 

%

 
   

  178  

 
  

  242  

 
  

-26.3

 
 

%

 
  

-17.0

 
 

%

 
  

-9.3

 
 

%

 
WW   

  119  

 
  

  140  

 
  

-14.9

 
 

%

 
  

-8.6

 
 

%

 
  

-6.3

 
 

%

 
   

  373  

 
  

  452  

 
  

-17.4

 
 

%

 
  

-12.4

 
 

%

 
  

-5.0

 
 

%

 
  OTHER NEUROSCIENCE                       
US   

  127  

 
  

  81  

 
  

57.2

 
 

%

 
  

57.2

 
 

%

 
  

-

 
 

 

 
   

  313  

 
  

  239  

 
  

31.1

 
 

%

 
  

31.1

 
 

%

 
  

-

 
 

 

 
Intl   

  246  

 
  

  298  

 
  

-17.9

 
 

%

 
  

-10.0

 
 

%

 
  

-7.9

 
 

%

 
   

  861  

 
  

  1,026  

 
  

-16.2

 
 

%

 
  

-10.2

 
 

%

 
  

-6.0

 
 

%

 
WW   

  374  

 
  

  379  

 
  

-1.9

 
 

%

 
  

4.3

 
 

%

 
  

-6.2

 
 

%

 
   

  1,174  

 
  

  1,265  

 
  

-7.3

 
 

%

 
  

-2.4

 
 

%

 
  

-4.9

 
 

%

 
   ONCOLOGY                        
US   

  1,812  

 
  

  1,525  

 
  

18.8

 
 

%

 
  

18.8

 
 

%

 
  

-

 
 

 

 
   

  5,073  

 
  

  4,364  

 
  

16.2

 
 

%

 
  

16.2

 
 

%

 
  

-

 
 

 

 
Intl   

  2,252  

 
  

  2,140  

 
  

5.2

 
 

%

 
  

20.9

 
 

%

 
  

-15.7

 
 

%

 
   

  6,983  

 
  

  6,406  

 
  

9.0

 
 

%

 
  

20.8

 
 

%

 
  

-11.8

 
 

%

 
WW   

  4,064  

 
  

  3,665  

 
  

10.9

 
 

%

 
  

20.0

 
 

%

 
  

-9.1

 
 

%

 
   

  12,056  

 
  

  10,770  

 
  

11.9

 
 

%

 
  

19.0

 
 

%

 
  

-7.1

 
 

%

 
  DARZALEX                       
US   

  1,097  

 
  

  841  

 
  

30.3

 
 

%

 
  

30.3

 
 

%

 
  

-

 
 

 

 
   

  3,071  

 
  

  2,302  

 
  

33.4

 
 

%

 
  

33.4

 
 

%

 
  

-

 
 

 

 
Intl   

  955  

 
  

  739  

 
  

29.3

 
 

%

 
  

48.2

 
 

%

 
  

-18.9

 
 

%

 
   

  2,823  

 
  

  2,076  

 
  

36.0

 
 

%

 
  

50.8

 
 

%

 
  

-14.8

 
 

%

 
WW   

  2,052  

 
  

  1,580  

 
  

29.8

 
 

%

 
  

38.7

 
 

%

 
  

-8.9

 
 

%

 
   

  5,894  

 
  

  4,378  

 
  

34.6

 
 

%

 
  

41.6

 
 

%

 
  

-7.0

 
 

%

 
  ERLEADA                       
US   

  254  

 
  

  214  

 
  

19.1

 
 

%

 
  

19.1

 
 

%

 
  

-

 
 

 

 
   

  693  

 
  

  578  

 
  

20.0

 
 

%

 
  

20.0

 
 

%

 
  

-

 
 

 

 
Intl   

  235  

 
  

  130  

 
  

*

 
  

*

 
  

*

 
   

  647  

 
  

  329  

 
  

*

 
  

*

 
  

*

 
WW   

  490  

 
  

  344  

 
  

42.2

 
 

%

 
  

51.2

 
 

%

 
  

-9.0

 
 

%

 
   

  1,340  

 
  

  907  

 
  

47.7

 
 

%

 
  

54.9

 
 

%

 
  

-7.2

 
 

%

 
  IMBRUVICA                       
US   

  353  

 
  

  413  

 
  

-14.6

 
 

%

 
  

-14.6

 
 

%

 
  

-

 
 

 

 
   

  1,072  

 
  

  1,311  

 
  

-18.3

 
 

%

 
  

-18.3

 
 

%

 
  

-

 
 

 

 
Intl   

  559  

 
  

  654  

 
  

-14.6

 
 

%

 
  

-2.5

 
 

%

 
  

-12.1

 
 

%

 
   

  1,847  

 
  

  1,996  

 
  

-7.5

 
 

%

 
  

1.9

 
 

%

 
  

-9.4

 
 

%

 
WW   

  911  

 
  

  1,066  

 
  

-14.6

 
 

%

 
  

-7.2

 
 

%

 
  

-7.4

 
 

%

 
   

  2,918  

 
  

  3,307  

 
  

-11.8

 
 

%

 
  

-6.1

 
 

%

 
  

-5.7

 
 

%

 
  ZYTIGA / abiraterone acetate                       
US   

  16  

 
  

  25  

 
  

-33.1

 
 

%

 
  

-33.1

 
 

%

 
  

-

 
 

 

 
   

  54  

 
  

  96  

 
  

-43.4

 
 

%

 
  

-43.4

 
 

%

 
  

-

 
 

 

 
Intl   

  440  

 
  

  523  

 
  

-15.9

 
 

%

 
  

-1.2

 
 

%

 
  

-14.7

 
 

%

 
   

  1,446  

 
  

  1,653  

 
  

-12.5

 
 

%

 
  

-1.9

 
 

%

 
  

-10.6

 
 

%

 
WW   

  456  

 
  

  548  

 
  

-16.7

 
 

%

 
  

-2.6

 
 

%

 
  

-14.1

 
 

%

 
   

  1,500  

 
  

  1,749  

 
  

-14.2

 
 

%

 
  

-4.2

 
 

%

 
  

-10.0

 
 

%

 
  OTHER ONCOLOGY                       
US   

  92  

 
  

  32  

 
  

*

 
  

*

 
  

-

 
 

 

 
   

  183  

 
  

  76  

 
  

*

 
  

*

 
  

-

 
 

 

 
Intl   

  64  

 
  

  94  

 
  

-32.1

 
 

%

 
  

-22.6

 
 

%

 
  

-9.5

 
 

%

 
   

  220  

 
  

  352  

 
  

-37.5

 
 

%

 
  

-31.2

 
 

%

 
  

-6.3

 
 

%

 
WW   

  155  

 
  

  126  

 
  

23.1

 
 

%

 
  

30.2

 
 

%

 
  

-7.1

 
 

%

 
   

  403  

 
  

  428  

 
  

-5.9

 
 

%

 
  

-0.8

 
 

%

 
  

-5.1

 
 

%

 
                      
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
     REPORTED SALES vs. PRIOR PERIOD ($MM)        REPORTED SALES vs. PRIOR PERIOD ($MM)   
   THIRD QUARTER     NINE MONTHS  
   

 

 
 

 

 
 

 

 
  

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

  % Change  

 
   

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
   PULMONARY HYPERTENSION                        
US   

 

 
 

  604  

 
  

  610  

 
  

-1.1

 
 

%

 
  

-1.1

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,736  

 
  

  1,778  

 
  

-2.4

 
 

%

 
  

-2.4

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  247  

 
  

  258  

 
  

-3.8

 
 

%

 
  

12.5

 
 

%

 
  

-16.3

 
 

%

 
   

 

 
 

  810  

 
  

  821  

 
  

-1.3

 
 

%

 
  

10.5

 
 

%

 
  

-11.8

 
 

%

 
WW   

 

 
 

  852  

 
  

  868  

 
  

-1.9

 
 

%

 
  

3.0

 
 

%

 
  

-4.9

 
 

%

 
   

 

 
 

  2,547  

 
  

  2,599  

 
  

-2.0

 
 

%

 
  

1.7

 
 

%

 
  

-3.7

 
 

%

 
  OPSUMIT                       
US   

 

 
 

  289  

 
  

  299  

 
  

-3.4

 
 

%

 
  

-3.4

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  827  

 
  

  861  

 
  

-4.0

 
 

%

 
  

-4.0

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  152  

 
  

  159  

 
  

-4.7

 
 

%

 
  

11.6

 
 

%

 
  

-16.3

 
 

%

 
   

 

 
 

  495  

 
  

  510  

 
  

-3.0

 
 

%

 
  

8.7

 
 

%

 
  

-11.7

 
 

%

 
WW   

 

 
 

  441  

 
  

  458  

 
  

-3.9

 
 

%

 
  

1.8

 
 

%

 
  

-5.7

 
 

%

 
   

 

 
 

  1,322  

 
  

  1,371  

 
  

-3.6

 
 

%

 
  

0.7

 
 

%

 
  

-4.3

 
 

%

 
  UPTRAVI                       
US   

 

 
 

  283  

 
  

  265  

 
  

6.6

 
 

%

 
  

6.6

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  824  

 
  

  792  

 
  

3.9

 
 

%

 
  

3.9

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  50  

 
  

  44  

 
  

14.2

 
 

%

 
  

29.5

 
 

%

 
  

-15.3

 
 

%

 
   

 

 
 

  162  

 
  

  135  

 
  

20.4

 
 

%

 
  

32.1

 
 

%

 
  

-11.7

 
 

%

 
WW   

 

 
 

  333  

 
  

  309  

 
  

7.7

 
 

%

 
  

9.9

 
 

%

 
  

-2.2

 
 

%

 
   

 

 
 

  986  

 
  

  927  

 
  

6.3

 
 

%

 
  

8.0

 
 

%

 
  

-1.7

 
 

%

 
  OTHER PULMONARY HYPERTENSION                       
US   

 

 
 

  33  

 
  

  47  

 
  

-29.5

 
 

%

 
  

-29.5

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  86  

 
  

  125  

 
  

-31.3

 
 

%

 
  

-31.3

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  46  

 
  

  54  

 
  

-15.7

 
 

%

 
  

1.2

 
 

%

 
  

-16.9

 
 

%

 
   

 

 
 

  154  

 
  

  176  

 
  

-13.0

 
 

%

 
  

-1.0

 
 

%

 
  

-12.0

 
 

%

 
WW   

 

 
 

  78  

 
  

  101  

 
  

-22.1

 
 

%

 
  

-12.9

 
 

%

 
  

-9.2

 
 

%

 
   

 

 
 

  239  

 
  

  301  

 
  

-20.5

 
 

%

 
  

-13.5

 
 

%

 
  

-7.0

 
 

%

 
   CARDIOVASCULAR / METABOLISM / OTHER                        
US   

 

 
 

  837  

 
  

  800  

 
  

4.5

 
 

%

 
  

4.5

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  2,266  

 
  

  2,379  

 
  

-4.8

 
 

%

 
  

-4.8

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  198  

 
  

  241  

 
  

-17.5

 
 

%

 
  

-8.8

 
 

%

 
  

-8.7

 
 

%

 
   

 

 
 

  651  

 
  

  727  

 
  

-10.4

 
 

%

 
  

-3.8

 
 

%

 
  

-6.6

 
 

%

 
WW   

 

 
 

  1,034  

 
  

  1,041  

 
  

-0.6

 
 

%

 
  

1.4

 
 

%

 
  

-2.0

 
 

%

 
   

 

 
 

  2,916  

 
  

  3,106  

 
  

-6.1

 
 

%

 
  

-4.5

 
 

%

 
  

-1.6

 
 

%

 
  XARELTO                       
US   

 

 
 

  689  

 
  

  636  

 
  

8.4

 
 

%

 
  

8.4

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,806  

 
  

  1,794  

 
  

0.7

 
 

%

 
  

0.7

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  -  

 
  

  -  

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
   

 

 
 

  -  

 
  

  -  

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
WW   

 

 
 

  689  

 
  

  636  

 
  

8.4

 
 

%

 
  

8.4

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,806  

 
  

  1,794  

 
  

0.7

 
 

%

 
  

0.7

 
 

%

 
  

-

 
 

 

 
  INVOKANA / INVOKAMET                       
US   

 

 
 

  49  

 
  

  66  

 
  

-25.8

 
 

%

 
  

-25.8

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  164  

 
  

  249  

 
  

-34.1

 
 

%

 
  

-34.1

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  60  

 
  

  67  

 
  

-11.0

 
 

%

 
  

-2.5

 
 

%

 
  

-8.5

 
 

%

 
   

 

 
 

  193  

 
  

  194  

 
  

-0.6

 
 

%

 
  

6.1

 
 

%

 
  

-6.7

 
 

%

 
WW   

 

 
 

  109  

 
  

  133  

 
  

-18.4

 
 

%

 
  

-14.1

 
 

%

 
  

-4.3

 
 

%

 
   

 

 
 

  357  

 
  

  443  

 
  

-19.5

 
 

%

 
  

-16.6

 
 

%

 
  

-2.9

 
 

%

 
  OTHER                       
US   

 

 
 

  98  

 
  

  98  

 
  

-0.1

 
 

%

 
  

-0.1

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  295  

 
  

  336  

 
  

-12.2

 
 

%

 
  

-12.2

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  138  

 
  

  173  

 
  

-20.0

 
 

%

 
  

-11.3

 
 

%

 
  

-8.7

 
 

%

 
   

 

 
 

  458  

 
  

  533  

 
  

-14.0

 
 

%

 
  

-7.3

 
 

%

 
  

-6.7

 
 

%

 
WW   

 

 
 

  236  

 
  

  271  

 
  

-12.8

 
 

%

 
  

-7.3

 
 

%

 
  

-5.5

 
 

%

 
   

 

 
 

  753  

 
  

  869  

 
  

-13.3

 
 

%

 
  

-9.2

 
 

%

 
  

-4.1

 
 

%

 
                      
   TOTAL PHARMACEUTICAL                        
  US    

 

 
 

  7,438  

 
  

  7,221  

 
  

  3.0  

 
 

  %  

 
  

  3.0  

 
 

  %  

 
  

  -  

 
 

 

 
   

 

 
 

  21,229  

 
  

  20,536  

 
  

  3.4  

 
 

  %  

 
  

  3.4  

 
 

  %  

 
  

-

 
 

 

 
  Intl    

 

 
 

  5,776  

 
  

  5,661  

 
  

  2.0  

 
 

  %  

 
  

  16.7  

 
 

  %  

 
  

  -14.7  

 
 

  %  

 
   

 

 
 

  18,171  

 
  

  16,927  

 
  

  7.3  

 
 

  %  

 
  

  18.5  

 
 

  %  

 
  

  -11.2  

 
 

  %  

 
  WW    

  $  

 
 

  13,214  

 
  

  12,882  

 
  

  2.6  

 
 

  %  

 
  

  9.0  

 
 

  %  

 
  

  -6.4  

 
 

  %  

 
   

  $  

 
 

  39,400  

 
  

  37,463  

 
  

  5.2  

 
 

  %  

 
  

  10.2  

 
 

  %  

 
  

  -5.0  

 
 

  %  

 
 

 

 
                     
 

See footnotes at end of schedule

 
                     
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
     REPORTED SALES vs. PRIOR PERIOD ($MM)        REPORTED SALES vs. PRIOR PERIOD ($MM)   
   THIRD QUARTER      NINE MONTHS  
   

 

 
 

 

 
 

 

 
  

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

  % Change  

 
   MEDTECH SEGMENT    (2,3,5)     

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
   

 

 
 

 

 
 

 

 
  

 

 
  

 

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

 

 
  

 

 
  

 

 
   INTERVENTIONAL SOLUTIONS                        
US   

  $  

 
 

  547  

 
  

  444  

 
  

23.2

 
 

%

 
  

23.2

 
 

%

 
  

-

 
 

 

 
   

  $  

 
 

  1,566  

 
  

  1,353  

 
  

15.7

 
 

%

 
  

15.7

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  513  

 
  

  513  

 
  

0.0

 
 

%

 
  

13.0

 
 

%

 
  

-13.0

 
 

%

 
   

 

 
 

  1,636  

 
  

  1,599  

 
  

2.3

 
 

%

 
  

11.1

 
 

%

 
  

-8.8

 
 

%

 
WW   

 

 
 

  1,060  

 
  

  957  

 
  

10.8

 
 

%

 
  

17.7

 
 

%

 
  

-6.9

 
 

%

 
   

 

 
 

  3,202  

 
  

  2,952  

 
  

8.5

 
 

%

 
  

13.2

 
 

%

 
  

-4.7

 
 

%

 
   ORTHOPAEDICS                        
US   

 

 
 

  1,309  

 
  

  1,249  

 
  

4.8

 
 

%

 
  

4.8

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  3,936  

 
  

  3,821  

 
  

3.0

 
 

%

 
  

3.0

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  785  

 
  

  843  

 
  

-6.9

 
 

%

 
  

4.6

 
 

%

 
  

-11.5

 
 

%

 
   

 

 
 

  2,504  

 
  

  2,611  

 
  

-4.1

 
 

%

 
  

4.3

 
 

%

 
  

-8.4

 
 

%

 
WW   

 

 
 

  2,095  

 
  

  2,093  

 
  

0.1

 
 

%

 
  

4.7

 
 

%

 
  

-4.6

 
 

%

 
   

 

 
 

  6,440  

 
  

  6,433  

 
  

0.1

 
 

%

 
  

3.5

 
 

%

 
  

-3.4

 
 

%

 
  HIPS                       
US   

 

 
 

  228  

 
  

  209  

 
  

9.1

 
 

%

 
  

9.1

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  693  

 
  

  651  

 
  

6.5

 
 

%

 
  

6.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  124  

 
  

  146  

 
  

-15.1

 
 

%

 
  

-4.5

 
 

%

 
  

-10.6

 
 

%

 
   

 

 
 

  437  

 
  

  451  

 
  

-3.3

 
 

%

 
  

4.6

 
 

%

 
  

-7.9

 
 

%

 
WW   

 

 
 

  352  

 
  

  355  

 
  

-0.9

 
 

%

 
  

3.5

 
 

%

 
  

-4.4

 
 

%

 
   

 

 
 

  1,129  

 
  

  1,102  

 
  

2.5

 
 

%

 
  

5.7

 
 

%

 
  

-3.2

 
 

%

 
  KNEES                       
US   

 

 
 

  203  

 
  

  184  

 
  

9.8

 
 

%

 
  

9.8

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  620  

 
  

  579  

 
  

6.9

 
 

%

 
  

6.9

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  115  

 
  

  131  

 
  

-12.8

 
 

%

 
  

-2.1

 
 

%

 
  

-10.7

 
 

%

 
   

 

 
 

  386  

 
  

  403  

 
  

-4.4

 
 

%

 
  

3.7

 
 

%

 
  

-8.1

 
 

%

 
WW   

 

 
 

  317  

 
  

  316  

 
  

0.4

 
 

%

 
  

4.9

 
 

%

 
  

-4.5

 
 

%

 
   

 

 
 

  1,005  

 
  

  983  

 
  

2.3

 
 

%

 
  

5.6

 
 

%

 
  

-3.3

 
 

%

 
  TRAUMA                       
US   

 

 
 

  473  

 
  

  455  

 
  

3.8

 
 

%

 
  

3.8

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,412  

 
  

  1,352  

 
  

4.4

 
 

%

 
  

4.4

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  244  

 
  

  260  

 
  

-6.0

 
 

%

 
  

6.5

 
 

%

 
  

-12.5

 
 

%

 
   

 

 
 

  749  

 
  

  805  

 
  

-7.0

 
 

%

 
  

2.3

 
 

%

 
  

-9.3

 
 

%

 
WW   

 

 
 

  717  

 
  

  715  

 
  

0.2

 
 

%

 
  

4.8

 
 

%

 
  

-4.6

 
 

%

 
   

 

 
 

  2,161  

 
  

  2,157  

 
  

0.2

 
 

%

 
  

3.6

 
 

%

 
  

-3.4

 
 

%

 
  SPINE, SPORTS & OTHER                       
US   

 

 
 

  406  

 
  

  401  

 
  

1.3

 
 

%

 
  

1.3

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,211  

 
  

  1,239  

 
  

-2.2

 
 

%

 
  

-2.2

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  303  

 
  

  306  

 
  

-1.1

 
 

%

 
  

10.2

 
 

%

 
  

-11.3

 
 

%

 
   

 

 
 

  933  

 
  

  952  

 
  

-2.0

 
 

%

 
  

6.1

 
 

%

 
  

-8.1

 
 

%

 
WW   

 

 
 

  708  

 
  

  706  

 
  

0.3

 
 

%

 
  

5.2

 
 

%

 
  

-4.9

 
 

%

 
   

 

 
 

  2,144  

 
  

  2,190  

 
  

-2.1

 
 

%

 
  

1.4

 
 

%

 
  

-3.5

 
 

%

 
                      
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
     REPORTED SALES vs. PRIOR PERIOD ($MM)        REPORTED SALES vs. PRIOR PERIOD ($MM)   
   THIRD QUARTER     NINE MONTHS  
   

 

 
 

 

 
 

 

 
  

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

  % Change  

 
   

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
  

   Reported   

 
  

   Operational    (1)   

 
  

   Currency   

 
   SURGERY                        
US   

 

 
 

  984  

 
  

  948  

 
  

3.7

 
 

%

 
  

3.7

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  2,897  

 
  

  2,881  

 
  

0.5

 
 

%

 
  

0.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  1,439  

 
  

  1,457  

 
  

-1.2

 
 

%

 
  

9.3

 
 

%

 
  

-10.5

 
 

%

 
   

 

 
 

  4,410  

 
  

  4,418  

 
  

-0.2

 
 

%

 
  

7.3

 
 

%

 
  

-7.5

 
 

%

 
WW   

 

 
 

  2,422  

 
  

  2,405  

 
  

0.7

 
 

%

 
  

7.1

 
 

%

 
  

-6.4

 
 

%

 
   

 

 
 

  7,306  

 
  

  7,299  

 
  

0.1

 
 

%

 
  

4.6

 
 

%

 
  

-4.5

 
 

%

 
  ADVANCED                       
US   

 

 
 

  457  

 
  

  440  

 
  

3.8

 
 

%

 
  

3.8

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,328  

 
  

  1,304  

 
  

1.8

 
 

%

 
  

1.8

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  701  

 
  

  705  

 
  

-0.4

 
 

%

 
  

9.8

 
 

%

 
  

-10.2

 
 

%

 
   

 

 
 

  2,132  

 
  

  2,126  

 
  

0.3

 
 

%

 
  

7.2

 
 

%

 
  

-6.9

 
 

%

 
WW   

 

 
 

  1,158  

 
  

  1,144  

 
  

1.2

 
 

%

 
  

7.5

 
 

%

 
  

-6.3

 
 

%

 
   

 

 
 

  3,460  

 
  

  3,430  

 
  

0.9

 
 

%

 
  

5.2

 
 

%

 
  

-4.3

 
 

%

 
  GENERAL                       
US   

 

 
 

  527  

 
  

  508  

 
  

3.6

 
 

%

 
  

3.6

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,569  

 
  

  1,577  

 
  

-0.5

 
 

%

 
  

-0.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  737  

 
  

  752  

 
  

-2.0

 
 

%

 
  

8.8

 
 

%

 
  

-10.8

 
 

%

 
   

 

 
 

  2,277  

 
  

  2,292  

 
  

-0.6

 
 

%

 
  

7.3

 
 

%

 
  

-7.9

 
 

%

 
WW   

 

 
 

  1,264  

 
  

  1,261  

 
  

0.3

 
 

%

 
  

6.7

 
 

%

 
  

-6.4

 
 

%

 
   

 

 
 

  3,846  

 
  

  3,869  

 
  

-0.6

 
 

%

 
  

4.1

 
 

%

 
  

-4.7

 
 

%

 
   VISION                        
US   

 

 
 

  517  

 
  

  475  

 
  

8.8

 
 

%

 
  

8.8

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,534  

 
  

  1,414  

 
  

8.5

 
 

%

 
  

8.5

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  689  

 
  

  714  

 
  

-3.5

 
 

%

 
  

8.4

 
 

%

 
  

-11.9

 
 

%

 
   

 

 
 

  2,170  

 
  

  2,103  

 
  

3.2

 
 

%

 
  

12.9

 
 

%

 
  

-9.7

 
 

%

 
WW   

 

 
 

  1,206  

 
  

  1,189  

 
  

1.4

 
 

%

 
  

8.6

 
 

%

 
  

-7.2

 
 

%

 
   

 

 
 

  3,704  

 
  

  3,517  

 
  

5.3

 
 

%

 
  

11.1

 
 

%

 
  

-5.8

 
 

%

 
  CONTACT LENSES / OTHER                       
US   

 

 
 

  405  

 
  

  359  

 
  

12.6

 
 

%

 
  

12.6

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  1,179  

 
  

  1,082  

 
  

9.0

 
 

%

 
  

9.0

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  503  

 
  

  522  

 
  

-3.6

 
 

%

 
  

9.5

 
 

%

 
  

-13.1

 
 

%

 
   

 

 
 

  1,533  

 
  

  1,525  

 
  

0.5

 
 

%

 
  

11.1

 
 

%

 
  

-10.6

 
 

%

 
WW   

 

 
 

  908  

 
  

  882  

 
  

3.0

 
 

%

 
  

10.8

 
 

%

 
  

-7.8

 
 

%

 
   

 

 
 

  2,712  

 
  

  2,607  

 
  

4.0

 
 

%

 
  

10.2

 
 

%

 
  

-6.2

 
 

%

 
  SURGICAL                       
US   

 

 
 

  112  

 
  

  117  

 
  

-3.2

 
 

%

 
  

-3.2

 
 

%

 
  

-

 
 

 

 
   

 

 
 

  355  

 
  

  333  

 
  

6.8

 
 

%

 
  

6.8

 
 

%

 
  

-

 
 

 

 
Intl   

 

 
 

  186  

 
  

  191  

 
  

-3.3

 
 

%

 
  

5.6

 
 

%

 
  

-8.9

 
 

%

 
   

 

 
 

  637  

 
  

  577  

 
  

10.3

 
 

%

 
  

17.6

 
 

%

 
  

-7.3

 
 

%

 
WW   

 

 
 

  298  

 
  

  308  

 
  

-3.2

 
 

%

 
  

2.3

 
 

%

 
  

-5.5

 
 

%

 
   

 

 
 

  992  

 
  

  910  

 
  

9.0

 
 

%

 
  

13.6

 
 

%

 
  

-4.6

 
 

%

 
                      
   TOTAL MEDTECH                        
  US    

 

 
 

  3,356  

 
  

  3,117  

 
  

  7.7  

 
 

  %  

 
  

  7.7  

 
 

  %  

 
  

  -  

 
 

 

 
   

 

 
 

  9,932  

 
  

  9,470  

 
  

  4.9  

 
 

  %  

 
  

  4.9  

 
 

  %  

 
  

  -  

 
 

 

 
  Intl    

 

 
 

  3,426  

 
  

  3,527  

 
  

  -2.9  

 
 

  %  

 
  

  8.5  

 
 

  %  

 
  

  -11.4  

 
 

  %  

 
   

 

 
 

  10,719  

 
  

  10,731  

 
  

  -0.1  

 
 

  %  

 
  

  8.2  

 
 

  %  

 
  

  -8.3  

 
 

  %  

 
  WW    

  $  

 
 

  6,782  

 
  

  6,644  

 
  

  2.1  

 
 

  %  

 
  

  8.1  

 
 

  %  

 
  

  -6.0  

 
 

  %  

 
   

  $  

 
 

  20,651  

 
  

  20,201  

 
  

  2.2  

 
 

  %  

 
  

  6.6  

 
 

  %  

 
  

  -4.4  

 
 

  %  

 
                      
 
                                     
 

  Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

 
               
* Percentage greater than 100% or not meaningful
(1) Operational growth excludes the effect of translational currency
(2) Unaudited
(3) Certain prior year amounts have been reclassified to conform to current year product disclosures
(4) Reported as U.S. sales
(5) Previously referred to as Medical Devices
               
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
   Supplemental Sales Reconciliation (Unaudited)   
(Dollars in Millions)
                       
    

  THIRD QUARTER  

 
 

 

 
 

  NINE MONTHS  

 
 
    

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
 
    

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
 
                       
   Pharmaceutical                       
  U.S.   

  $  

 
 

  7,438  

 
  

  7,221  

 
  

3.0

 
 

 

 
 

  %  

 
 

3.0

 
  

-

 
 

 

 
  

  $  

 
 

  21,229  

 
  

  20,536  

 
  

3.4

 
 

 

 
 

  %  

 
 

3.4

 
 

 

 
  

-

 
 

 

 
 
  International   

 

 
 

  5,776  

 
  

  5,661  

 
  

2.0

 
 

 

 
  

16.7

 
  

(14.7

 
 

)

 
  

 

 
 

  18,171  

 
  

  16,927  

 
  

7.3

 
 

 

 
  

18.5

 
 

 

 
  

(11.2

 
 

)

 
 
  Worldwide   

 

 
 

  13,214  

 
  

  12,882  

 
  

2.6

 
 

 

 
  

9.0

 
  

(6.4

 
 

)

 
  

 

 
 

  39,400  

 
  

  37,463  

 
  

5.2

 
 

 

 
  

10.2

 
 

 

 
  

(5.0

 
 

)

 
 
                       
  COVID-19 Vaccine                      
  U.S.   

 

 
 

  0  

 
  

  270  

 
  *   *   

-

 
 

 

 
  

 

 
 

  120  

 
  

  421  

 
  

(71.5

 
 

)

 
  

(71.5

 
 

)

 
  

-

 
 

 

 
 
  International   

 

 
 

  489  

 
  

  233  

 
  *   *   *   

 

 
 

  1,370  

 
  

  346  

 
  *   *   *  
  Worldwide   

 

 
 

  489  

 
  

  502  

 
  

(2.7

 
 

)

 
  

13.1

 
  

(15.8

 
 

)

 
  

 

 
 

  1,490  

 
  

  766  

 
  *   *   *  
                       
  Pharmaceutical excluding COVID-19 Vaccine                      
  U.S.   

 

 
 

  7,438  

 
  

  6,951  

 
  

7.0

 
 

 

 
  

7.0

 
  

-

 
 

 

 
  

 

 
 

  21,109  

 
  

  20,115  

 
  

4.9

 
 

 

 
  

4.9

 
 

 

 
  

-

 
 

 

 
 
  International   

 

 
 

  5,287  

 
  

  5,429  

 
  

(2.6

 
 

)

 
  

11.3

 
  

(13.9

 
 

)

 
  

 

 
 

  16,801  

 
  

  16,582  

 
  

1.3

 
 

 

 
  

11.7

 
 

 

 
  

(10.4

 
 

)

 
 
  Worldwide   

 

 
 

  12,725  

 
  

  12,380  

 
  

2.8

 
 

 

 
  

8.9

 
  

(6.1

 
 

)

 
  

 

 
 

  37,910  

 
  

  36,697  

 
  

3.3

 
 

 

 
  

8.0

 
 

 

 
  

(4.7

 
 

)

 
 
                       
   Worldwide                       
  U.S.   

 

 
 

  12,453  

 
  

  11,963  

 
  

4.1

 
 

 

 
  

4.1

 
  

-

 
 

 

 
  

 

 
 

  36,064  

 
  

  34,993  

 
  

3.1

 
 

 

 
  

3.1

 
 

 

 
  

-

 
 

 

 
 
  International   

 

 
 

  11,338  

 
  

  11,375  

 
  

(0.3

 
 

)

 
  

12.3

 
  

(12.6

 
 

)

 
  

 

 
 

  35,173  

 
  

  33,978  

 
  

3.5

 
 

 

 
  

12.9

 
 

 

 
  

(9.4

 
 

)

 
 
  Worldwide   

 

 
 

  23,791  

 
  

  23,338  

 
  

1.9

 
 

 

 
  

8.1

 
  

(6.2

 
 

)

 
  

 

 
 

  71,237  

 
  

  68,971  

 
  

3.3

 
 

 

 
  

7.9

 
 

 

 
  

(4.6

 
 

)

 
 
                       
  COVID-19 Vaccine                      
  U.S.   

 

 
 

  0  

 
  

  270  

 
  *   *   

-

 
 

 

 
  

 

 
 

  120  

 
  

  421  

 
  

(71.5

 
 

)

 
  

(71.5

 
 

)

 
  

-

 
 

 

 
 
  International   

 

 
 

  489  

 
  

  233  

 
  *   *   *   

 

 
 

  1,370  

 
  

  346  

 
  *   *   *  
  Worldwide   

 

 
 

  489  

 
  

  502  

 
  

(2.7

 
 

)

 
  

13.1

 
  

(15.8

 
 

)

 
  

 

 
 

  1,490  

 
  

  766  

 
  *   *   *  
                       
  Worldwide                      
  U.S.   

 

 
 

  12,453  

 
  

  11,693  

 
  

6.5

 
 

 

 
  

6.5

 
  

-

 
 

 

 
  

 

 
 

  35,944  

 
  

  34,572  

 
  

4.0

 
 

 

 
  

4.0

 
 

 

 
  

-

 
 

 

 
 
  International   

 

 
 

  10,849  

 
  

  11,143  

 
  

(2.6

 
 

)

 
  

9.5

 
  

(12.1

 
 

)

 
  

 

 
 

  33,803  

 
  

  33,633  

 
  

0.5

 
 

 

 
  

9.5

 
 

 

 
  

(9.0

 
 

)

 
 
  Worldwide excluding COVID-19 Vaccine   

  $  

 
 

  23,302  

 
  

  22,836  

 
  

2.0

 
 

 

 
 

  %  

 
 

8.0

 
  

(6.0

 
 

)

 
  

  $  

 
 

  69,747  

 
  

  68,205  

 
  

2.3

 
 

 

 
 

  %  

 
 

6.7

 
 

 

 
  

(4.4

 
 

)

 
 
                       
   Note: Columns and rows within tables may not add due to rounding
  * Percentage greater than 100% or not meaningful
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q3 QTD - Income Before Tax by Segment*
Dollars in Millions
                   

 

 
    
   

Consumer Health 1

 
 

 

 
 

Pharmaceutical 1

 
 

 

 
 

MedTech

 
 

 

 
 

Unallocated

 
 

 

 
Consumer Health Separation Costs  

 

 
 

Worldwide Total

 
   

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
                         
Reported Income Before Tax by Segment $  

809

 
 

 

 
  

(577

 
 

)

 
  

4,249

 
 

 

 
  

4,200

 
 

 

 
  

1,124

 
 

 

 
  

423

 
 

 

 
  

(111

 
 

)

 
  

(197

 
 

)

 
  

(249

 
 

)

 
  

-

 
 

 

 
  

5,822

 
 

 

 
  

3,849

 
 

 

 
   % to Sales     

   21.3   

 
 

   %   

 
  

   -15.1   

 
 

   %   

 
  

   32.2   

 
 

   %   

 
  

   32.6   

 
 

   %   

 
  

   16.6   

 
 

   %   

 
  

   6.4   

 
 

   %   

 
  

   -0.5   

 
 

   %   

 
  

   -0.8   

 
 

   %   

 
  

   -1.0   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   24.5   

 
 

   %   

 
  

   16.5   

 
 

   %   

 
                         
Intangible asset amortization expense   

83

 
 

 

 
  

103

 
 

 

 
  

698

 
 

 

 
  

799

 
 

 

 
  

260

 
 

 

 
  

257

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

1,041

 
 

 

 
  

1,159

 
 

 

 
                         
In-process research and development   

-

 
 

 

 
    

-

 
 

 

 
    

-

 
 

 

 
  

900

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

900

 
 

 

 
                         
Litigation related   

-

 
 

 

 
  

1,359

 
 

 

 
  

7

 
 

 

 
  

756

 
 

 

 
  

212

 
 

 

 
  

(38

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

219

 
 

 

 
  

2,077

 
 

 

 
                         
Loss/(gain) on securities   

-

 
 

 

 
  

1

 
 

 

 
  

177

 
 

 

 
  

(135

 
 

)

 
  

(13

 
 

)

 
  

7

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

164

 
 

 

 
  

(127

 
 

)

 
                         
Restructuring related   

31

 
 

 

 
  

36

 
 

 

 
  

23

 
 

 

 
  

17

 
 

 

 
  

69

 
 

 

 
  

68

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

123

 
 

 

 
  

121

 
 

 

 
                         
Acquisition, integration and divestiture related   

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

3

 
 

 

 
  

-

 
 

 

 
  

17

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

20

 
 

 

 
                         
Medical Device Regulation   

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

78

 
 

 

 
  

59

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

78

 
 

 

 
  

59

 
 

 

 
                         
COVID-19 Vaccine related costs   

-

 
 

 

 
  

-

 
 

 

 
  

377

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

377

 
 

 

 
  

-

 
 

 

 
                         
Consumer Health separation costs   

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

249

 
 

 

 
  

-

 
 

 

 
  

249

 
 

 

 
  

-

 
 

 

 
                         
Other   

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
                         
Adjusted Income Before Tax by Segment $  

923

 
 

 

 
  

922

 
 

 

 
  

5,531

 
 

 

 
  

5,640

 
 

 

 
  

1,730

 
 

 

 
  

1,693

 
 

 

 
  

(111

 
 

)

 
  

(197

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

8,073

 
 

 

 
  

8,058

 
 

 

 
   % to Sales     

   24.3   

 
 

   %   

 
  

   24.2   

 
 

   %   

 
  

   41.9   

 
 

   %   

 
  

   43.8   

 
 

   %   

 
  

   25.5   

 
 

   %   

 
  

   25.5   

 
 

   %   

 
  

   -0.5   

 
 

   %   

 
  

   -0.8   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   33.9   

 
 

   %   

 
  

   34.5   

 
 

   %   

 
                         
                         
                         
  1 Prior year income before tax has been reclassified as Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
                         
*Estimated as of 10/18/2022
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures          
Q3 YTD - Income Before Tax by Segment*
Dollars in Millions
                   

 

 
    
   

Consumer Health 1

 
 

 

 
 

Pharmaceutical 1

 
 

 

 
 

MedTech

 
 

 

 
 

Unallocated

 
 

 

 
 

Consumer Health

 

Separation Costs

 
 

 

 
 

Worldwide Total

 
   

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
                         
Reported Income Before Tax by Segment $  

2,279

 
 

 

 
  

1,131

 
 

 

 
  

12,593

 
 

 

 
  

13,663

 
 

 

 
  

3,742

 
 

 

 
  

3,798

 
 

 

 
  

(471

 
 

)

 
  

(652

 
 

)

 
  

(619

 
 

)

 
  

-

 
 

 

 
  

17,524

 
 

 

 
  

17,940

 
 

 

 
   % to Sales     

   20.4   

 
 

   %   

 
  

   10.0   

 
 

   %   

 
  

   32.0   

 
 

   %   

 
  

   36.5   

 
 

   %   

 
  

   18.1   

 
 

   %   

 
  

   18.8   

 
 

   %   

 
  

   -0.7   

 
 

   %   

 
  

   -0.9   

 
 

   %   

 
  

   -0.9   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   24.6   

 
 

   %   

 
  

   26.0   

 
 

   %   

 
                         
Intangible asset amortization expense   

277

 
 

 

 
  

314

 
 

 

 
  

2,194

 
 

 

 
  

2,497

 
 

 

 
  

773

 
 

 

 
  

765

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

3,244

 
 

 

 
  

3,576

 
 

 

 
                         
In-process research and development   

-

 
 

 

 
  

-

 
 

 

 
  

610

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

900

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

610

 
 

 

 
  

900

 
 

 

 
                         
Litigation related   

78

 
 

 

 
  

1,481

 
 

 

 
  

43

 
 

 

 
  

675

 
 

 

 
  

483

 
 

 

 
  

(102

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

604

 
 

 

 
  

2,054

 
 

 

 
                         
Loss/(gain) on securities   

-

 
 

 

 
  

(19

 
 

)

 
  

673

 
 

 

 
  

(249

 
 

)

 
  

11

 
 

 

 
  

(67

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

684

 
 

 

 
  

(335

 
 

)

 
                         
Restructuring related   

70

 
 

 

 
  

91

 
 

 

 
  

32

 
 

 

 
  

54

 
 

 

 
  

221

 
 

 

 
  

188

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

323

 
 

 

 
  

333

 
 

 

 
                         
Acquisition, integration and divestiture related   

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

(567

 
 

)

 
  

-

 
 

 

 
  

63

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

(504

 
 

)

 
                         
Medical Device Regulation   

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

208

 
 

 

 
  

161

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

208

 
 

 

 
  

161

 
 

 

 
                         
COVID-19 Vaccine related costs   

-

 
 

 

 
  

-

 
 

 

 
  

653

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

653

 
 

 

 
  

-

 
 

 

 
                         
Consumer Health separation costs   

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

619

 
 

 

 
  

-

 
 

 

 
  

619

 
 

 

 
  

-

 
 

 

 
                         
Other   

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

(7

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

(7

 
 

)

 
  

-

 
 

 

 
                         
Adjusted Income Before Tax by Segment $  

2,704

 
 

 

 
  

2,998

 
 

 

 
  

16,798

 
 

 

 
  

16,073

 
 

 

 
  

5,438

 
 

 

 
  

5,706

 
 

 

 
  

(478

 
 

)

 
  

(652

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

24,462

 
 

 

 
  

24,125

 
 

 

 
   % to Sales     

   24.2   

 
 

   %   

 
  

   26.5   

 
 

   %   

 
  

   42.6   

 
 

   %   

 
  

   42.9   

 
 

   %   

 
  

   26.3   

 
 

   %   

 
  

   28.2   

 
 

   %   

 
  

   -0.7   

 
 

   %   

 
  

   -0.9   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   34.3   

 
 

   %   

 
  

   35.0   

 
 

   %   

 
                         
                         
                         
  1 Prior year income before tax has been reclassified as Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
                         
*Estimated as of 10/18/2022
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
  Johnson & Johnson and Subsidiaries  
  GAAP to Non-GAAP Reconciliation  
  $ in Millions  
                             
  Quarter to Date  
                              
  

  Third Quarter  

 

  Oct 2, 2022  

 

  GAAP  

 
 

 

 
 

 

 
 

  Intangible asset amortization  

 
 

 

 
 

  Litigation related  

 
 

 

 
 

  In-process research and development  

 
 

 

 
 

  Restructuring related  

 
 

 

 
 

  Acquisition, integration and divestiture related  

 
 

 

 
 

  (Loss)/gain on securities  

 
 

 

 
 

  Medical Device Regulation  

 
 

 

 
 

  COVID-19 Vaccine Related Costs  

 
 

 

 
 

  Consumer Health separation costs  

 
 

 

 
 

  Consumer Health separation tax related costs  

 
 

 

 
 

  Tax legislation and other tax related  

 
 

 

 
 

  Other  

 
 

 

 
 

  Third Quarter  

 

  Oct 2, 2022  

 

  Non-GAAP  

 
Cost of products sold  

$

 
 

7,807

 
   

(1,041

 
 

)

 
      

(13

 
 

)

 
      

(29

 
 

)

 
  

(102

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

6,622

 
 

 

 
Selling, marketing and admin expenses  

 

 
 

6,089

 
               

(7

 
 

)

 
    

(2

 
 

)

 
        

6,080

 
 

 

 
Research and development expense  

 

 
 

3,597

 
           

-

 
 

 

 
    

(42

 
 

)

 
  

(80

 
 

)

 
  

-

 
 

 

 
        

3,475

 
 

 

 
Other (Income) / Expense  

 

 
 

493

 
   

-

 
 

 

 
  

(219

 
 

)

 
    

(28

 
 

)

 
  

-

 
 

 

 
  

(164

 
 

)

 
    

(195

 
 

)

 
  

(247

 
 

)

 
  

-

 
 

 

 
    

-

 
 

 

 
  

(360

 
 

)

 
In-process research and development  

 

 
 

-

 
       

-

 
 

 

 
                    

-

 
 

 

 
Restructuring  

 

 
 

82

 
         

(82

 
 

)

 
                  

-

 
 

 

 
Provision for taxes on income  

 

 
 

1,364

 
   

164

 
 

 

 
  

(7

 
 

)

 
  

-

 
 

 

 
  

23

 
 

 

 
  

-

 
 

 

 
  

43

 
 

 

 
  

15

 
 

 

 
  

96

 
 

 

 
  

45

 
 

 

 
  

(361

 
 

)

 
  

(88

 
 

)

 
  

-

 
 

 

 
  

1,294

 
 

 

 
Net Earnings  

 

 
 

4,458

 
   

877

 
 

 

 
  

226

 
 

 

 
  

-

 
 

 

 
  

100

 
 

 

 
  

-

 
 

 

 
  

121

 
 

 

 
  

63

 
 

 

 
  

281

 
 

 

 
  

204

 
 

 

 
  

361

 
 

 

 
  

88

 
 

 

 
  

-

 
 

 

 
  

6,779

 
 

 

 
                             
                              
  

  Third Quarter  

 

  Oct 3, 2021  

 

  GAAP  

 
 

 

 
 

 

 
 

  Intangible asset amortization  

 
 

 

 
 

  Litigation related  

 
 

 

 
 

  In-process research and development  

 
 

 

 
 

  Restructuring related  

 
 

 

 
 

  Acquisition, integration and divestiture related  

 
 

 

 
 

  (Loss)/gain on securities  

 
 

 

 
 

  Medical Device Regulation  

 
 

 

 
 

  COVID-19 Vaccine Related Costs  

 
 

 

 
 

  Consumer Health separation costs  

 
 

 

 
 

  Consumer Health separation tax related costs  

 
 

 

 
 

  Tax legislation and other tax related  

 
 

 

 
 

  Other  

 
 

 

 
 

  Second Quarter  

 

  Oct 3, 2021  

 

  Non-GAAP  

 
Cost of products sold  

$

 
 

7,250

 
   

(1,133

 
 

)

 
      

(18

 
 

)

 
      

(22

 
 

)

 
            

6,077

 
 

 

 
Selling, marketing and admin expenses  

 

 
 

6,000

 
               

(6

 
 

)

 
            

5,994

 
 

 

 
Research and development expense  

 

 
 

3,422

 
           

-

 
 

 

 
    

(31

 
 

)

 
            

3,391

 
 

 

 
Other (Income) / Expense  

 

 
 

1,850

 
   

(26

 
 

)

 
  

(2,077

 
 

)

 
    

(43

 
 

)

 
  

(20

 
 

)

 
  

127

 
 

 

 
    

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
    

-

 
 

 

 
  

(189

 
 

)

 
In-process research and development  

 

 
 

900

 
       

(900

 
 

)

 
                    

-

 
 

 

 
Restructuring  

 

 
 

60

 
         

(60

 
 

)

 
                  

-

 
 

 

 
Provision for taxes on income  

 

 
 

182

 
   

165

 
 

 

 
  

433

 
 

 

 
  

202

 
 

 

 
  

22

 
 

 

 
  

(6

 
 

)

 
  

22

 
 

 

 
  

11

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

59

 
 

 

 
  

-

 
 

 

 
  

1,090

 
 

 

 
Net Earnings  

 

 
 

3,667

 
   

994

 
 

 

 
  

1,644

 
 

 

 
  

698

 
 

 

 
  

99

 
 

 

 
  

26

 
 

 

 
  

(149

 
 

)

 
  

48

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

(59

 
 

)

 
  

-

 
 

 

 
  

6,968

 
 

 

 
                             
  Year to Date  
                              
  

  Nine Months  

 

  Oct 2, 2022  

 

  GAAP  

 
 

 

 
 

 

 
 

  Intangible asset amortization  

 
 

 

 
 

  Litigation related  

 
 

 

 
 

  In-process research and development  

 
 

 

 
 

 

 
 

  Restructuring related  

 
 

 

 
 

  Acquisition, integration and divestiture related  

 
 

 

 
 

  (Loss)/gain on securities  

 
 

 

 
 

  Medical Device Regulation  

 
 

 

 
 

  COVID-19 Vaccine Related Costs  

 
 

 

 
 

  Consumer Health separation costs  

 
 

 

 
 

  Consumer Health separation tax related costs  

 
 

 

 
 

  Tax legislation and other tax related  

 
 

 

 
 

  Other  

 
 

 

 
 

  Nine Months  

 

  Oct 2, 2022  

 

  Non-GAAP  

 
Cost of products sold  

$

 
 

23,324

 
   

(3,232

 
 

)

 
      

(46

 
 

)

 
      

(76

 
 

)

 
  

(296

 
 

)

 
          

19,674

 
 

 

 
Selling, marketing and admin expenses  

 

 
 

18,253

 
               

(19

 
 

)

 
    

(2

 
 

)

 
        

18,232

 
 

 

 
Research and development expense  

 

 
 

10,762

 
           

-

 
 

 

 
    

(113

 
 

)

 
  

(190

 
 

)

 
          

10,459

 
 

 

 
Other (Income) / Expense  

 

 
 

664

 
   

(12

 
 

)

 
  

(604

 
 

)

 
    

(40

 
 

)

 
  

-

 
 

 

 
  

(684

 
 

)

 
    

(167

 
 

)

 
  

(617

 
 

)

 
  

-

 
 

 

 
    

7

 
 

 

 
  

(1,453

 
 

)

 
In-process research and development  

 

 
 

610

 
       

(610

 
 

)

 
                    

-

 
 

 

 
Restructuring  

 

 
 

237

 
         

(237

 
 

)

 
                  

-

 
 

 

 
Provision for taxes on income  

 

 
 

3,103

 
   

502

 
 

 

 
  

(89

 
 

)

 
  

138

 
 

 

 
  

60

 
 

 

 
  

-

 
 

 

 
  

164

 
 

 

 
  

39

 
 

 

 
  

161

 
 

 

 
  

112

 
 

 

 
  

(459

 
 

)

 
  

(87

 
 

)

 
  

(2

 
 

)

 
  

3,642

 
 

 

 
Net Earnings  

 

 
 

14,421

 
   

2,742

 
 

 

 
  

693

 
 

 

 
  

472

 
 

 

 
  

263

 
 

 

 
  

-

 
 

 

 
  

520

 
 

 

 
  

169

 
 

 

 
  

492

 
 

 

 
  

507

 
 

 

 
  

459

 
 

 

 
  

87

 
 

 

 
  

(5

 
 

)

 
  

20,820

 
 

 

 
                             
                              
  

  Nine Months  

 

  Oct 3, 2021  

 

  GAAP  

 
 

 

 
 

 

 
 

  Intangible asset amortization  

 
 

 

 
 

  Litigation related  

 
 

 

 
 

  In-process research and development  

 
 

 

 
 

  Restructuring related  

 
 

 

 
 

  Acquisition, integration and divestiture related (1)  

 
 

 

 
 

  (Loss)/gain on securities  

 
 

 

 
 

  Medical Device Regulation  

 
 

 

 
 

  COVID-19 Vaccine Related Costs  

 
 

 

 
 

  Consumer Health separation costs  

 
 

 

 
 

  Consumer Health separation tax related costs  

 
 

 

 
 

  Tax legislation and other tax related  

 
 

 

 
 

  Other  

 
 

 

 
 

  Nine Months  

 

  Oct 3, 202  

 

  Non-GAAP  

 
Cost of products sold  

$

 
 

21,900

 
   

(3,550

 
 

)

 
      

(65

 
 

)

 
      

(59

 
 

)

 
            

18,226

 
 

 

 
Selling, marketing and admin expenses  

 

 
 

17,505

 
               

(17

 
 

)

 
            

17,488

 
 

 

 
Research and development expense  

 

 
 

9,994

 
           

-

 
 

 

 
    

(85

 
 

)

 
            

9,909

 
 

 

 
Other (Income) / Expense  

 

 
 

480

 
   

(26

 
 

)

 
  

(2,054

 
 

)

 
    

(99

 
 

)

 
  

504

 
 

 

 
  

335

 
 

 

 
    

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
    

-

 
 

 

 
  

(860

 
 

)

 
In-process research and development  

 

 
 

900

 
       

(900

 
 

)

 
                    

-

 
 

 

 
Restructuring  

 

 
 

169

 
         

(169

 
 

)

 
                  

-

 
 

 

 
Provision for taxes on income  

 

 
 

1,798

 
   

505

 
 

 

 
  

432

 
 

 

 
  

202

 
 

 

 
  

59

 
 

 

 
  

(104

 
 

)

 
  

(27

 
 

)

 
  

30

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

713

 
 

 

 
  

-

 
 

 

 
  

3,608

 
 

 

 
Net Earnings  

 

 
 

16,142

 
   

3,071

 
 

 

 
  

1,622

 
 

 

 
  

698

 
 

 

 
  

274

 
 

 

 
  

(400

 
 

)

 
  

(308

 
 

)

 
  

131

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

(713

 
 

)

 
  

-

 
 

 

 
  

20,517

 
 

 

 
                             
                             
(1) 2021 primarily includes gains on the divestitures of two Pharmaceutical brands outside of the United States.
                             
 

 

 

  

  

  Press Contacts:
Jake Sargent
(732) 524-1090

 

  Investor Contacts:  

 

Jessica Moore
(732) 524-2955

 

Sarah Wood
(732) 524-2617

 

News Provided by Business Wire via QuoteMedia

JNJ
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